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Thomas wants to save up $20,000 by four years from now by making monthly deposits of $395 at most.
a. Find the effective rate of interest that Thomas must obtain to meet his plan. State whether this would be the maximum or minimum rate of interest he must obtain to meet his targets.
b. Thomas has found a savings fund that pays interest of 2.62 percent compounded semiannually. He will make monthly deposits of $395 and he can make a deposit only once a month on the agreed payment date. Find the number of deposits Thomas must make, including a possible partial final deposit, to reach his target amount.
c. If Thomas makes the number of deposits you calculated in part (b), calculate the amount of the final deposit he must make to reach his target amount of savings.
The daily demand for Invigorated PED shoes is estimated to be where Ax represents the amount of advertising spent on shoes (X), Px is the price of good X, Py is the price of good Y, and M is average income.
Wishwell Tile Corporation uses the number of construction permits issued to help estimate demand. The company collected the following information on yearly sales and number of construction permits issued in its market area:
Whay is the payback period of the following investment when a) i=0% and b) i=10%/ year Initial Cost ($) 1,000,000 Annual Cost ($) 100,000 Annual income ($) 300,000 salvage Value ($) 500,000 Max Life time: 10 years
Suppose Springfield's economy moves into a recession and Y falls to $9 and rising unemployment allows widget makers to reduce wages to $18 per hour. What happens to the supply and demand curves.
A friend convinces you that she has a great idea for a business, and the two of you incorporate. You supply her with funds and let her make all the executive decisions. Under the agreement you hold 30% of the firms stock and your friend holds 70%.
The revenue and cost functions for producing and selling quantity x for a certain production facility are given below. R(x) = 16x - x2 C(x) = 20 + 4x a) Determine the profit function P(x). b) Use Excel to graph the functions R(x), C(x) and P(x) for t..
A loan is 600,000 at (1) 7% /yr/monthly over 30 years or (2) 6.625 compounded monthly over 15 years. There are no charges and prepayment can be done without penalty.What is the monthly payment for plan (1)
Yesterday bank A had no excess reserves. Today it received a new deposit of $5000. a) If the bank maintains a reserve requirement of 2 percent, what is the maximum loan that the bank A can make
A cupola for a foundry was purchased for $3000.$500 more was spent on its erection and commisioning.The estimated residual value after 10 yeras was $700. A)calculate annual rate of depriciation. B)Determine the amount of depriciation at the end of ..
What is Shelly's marginal rate of substitution when L = 100 and she is on her budget line? (c) What is Shelly's reservation wage? (d) Find Shelly's optimal amount of consumption and leisure.
A single producer of both products controls the entire market for beverages in this city and is considering strategies to bundle one bottle of health drink with one bottle of fruit juice. Assume that the marginal cost of supplying both varieties i..
If the t ratio for the slope of a simple linear regression equation is equal to 1.614 and the critical values of the t distribution at the 1% and 5% levels of significance, respectively are 3.499 and 2.365, then what is the slope
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