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You enroll in a thrift plan in which you are allowed to contribute 8% of your pretax salary per year. The company contributes an additional 6%. Your starting salary is $62,500 and you can expect annual increases of 3.5%. Use an interest rate of 7.25% in all your calculations.
a. How much money will be in your thrift plan account when you retire after 44 years of participation?
b. If you start your deposits 16 years later, how much will be in the account when you retire? How does this compare with the results of a. above?
c. If you retire using the accumulation calculated in part a. above to fund 20 years of retirement, calculate the equal annual payment for those 20 years.
d. If you decide to allow for inflation by increasing the payments by $10,000 each year, calculate the first and the twentieth annual payments
What is the equivalent present value of the following series of payments: $7000 the first year, $6500 the second year, $6000 the third year, $5500 the fourth year, and $5000 the fifth year The interest rate is 10%, compounded annually.
You work for a large company that recycles plastic drinking cups used by workers. The company wishes to generate $5 million by the end of the recycle program's 5 years life ($1,000,000 per year). Each recycled cup is sold for one-half cent. a) How..
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the cost of equipment replacement is 150000 every 6 years, beginning 6 years from now. How much money is required in the trust fund now to build the engineering laboratory and maintain its perpetual operation and equipment replacement
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Profits University produces student credit hours(y) with two inputs:Professors' hours of work(P) and TA's hours of work(T) according to the production function:f(P,T)=10P^(1/2)*T^(1/4). Both inputs are variable. Suppose professors are paid $80 per..
The Zenvox TV Company faces a demand function for its products that can be expressed as Q = 4,000 - P + 0.5i, where Q is the number of tv's, P is the price per tv, and i is the average monthly income. Average monthly income is currently equal to $..
Suppose that the reserve requirement is 3% on the first 30 million of checkable deposits and 10% on the checkable deposits in excess of 30 million. (Amounts on the balance sheet are in millions of $) Assets- Reserves 15.9, Loans 150.0, Securities 3..
Construct a table to report the regressions above, which includes the estimates, the standard errors, and adjusted R-square and find the estimated coefficient of ln(Y earsSchool) in Regression B. What is the interpretation of it?
Assume the following data describe the condition of the banking system: Total reserve $200 billion Transactions deposits $800 billion Cash held by pubic $100 billion Reserve Requirement 0.20
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