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Wilma bought a 10-year $1000 bond when the interest rate was 5% per year. So her bond would provide her with $50 at the end of each of ten successive years; and the $1000 is also returned at the end of ten years. She has just collected her seventh annual payment on the bond.Suppose now she wants to sell the bond because she is in need of money sooner than expected
a. Suppose the interest rate is still 5% and this is expected to continue for the remaining life of the bond. How much can she expect to sell her bond for?
b. Suppose the interest rate has increased to 10% and this is 10% rate is expected to continue for the remaining life of the bond. How much can she expect to sell her bond for?
The EPA tests vehicles for gasoline mileage under stringent testing conditions. The testing for a particular make and model of mid-sized SUV involved 35 vehicles submitted by the manufacturer. Assume the vehicles submitted for testing constitute a..
Q = 123 - 0.5P - 0.25 Pc + .01 Y where Q is the quantity of seasonal passes sold, P is the price for seasonal pass, Pc is the average price for concession items, and Y is average per capital income in Mapleville. what is the profit maximizing pric..
XYZ Corporation is a manufacturer of widgets. Over the past several months, it has been selling its widgets for $100 each and unit sales have averaged 5,000 units per month. This month its competitor, ABC, Inc. raised the price of its widgets from..
Suppose a bank's balance sheet looks as follows: Assets Liabilities Reserves $450 Deposits $5,000 And banks are required to hold equal to 10 percent of deposits. a. How many excess reserves does the bank hold
Mr. Jones has deposited his life savings of $70,000 in a retirement income plan with a local bank. The bank pays a. 10%, b. 11.25%, per year, compounded annually, on such deposits.
The initial price of a cup of coffee at a local gas station on is $1, and at that price, 400 cups are demanded each day. If the price falls to $0.90 a cup, the quantity demanded will increase to 500 cups a day.
The demand for haddock has been estimated as log Q = a=b log p=cl log I = d log Pm Where Q= quantity of haddock sold in New England P = price per pound of haddock I =a measure of personal income in the New England region and Pm= an index of the pr..
A recent study of 50 self-service gasoline stations in the Greater Cincinnati-Northern Kentucky metropolitan area revealed that the mean price of unleaded gas was $2.029 per gallon. The sample standard deviation was $0.03 per gallon.
Between October 2004 and 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4 percent. How is it possible for output to increase without a proportional increase in the number of workers
Suppose that economists have made the following projections for the coming year Exports $540B, imports $710B, capital outflow $320, capital inflow $420. As the year is unfolding, it turns out that these projections are proving to be quite accurate
Chuck, Michael and Hakeem are three retired basketball players. They determine that in Madison there is demand for private basketball coaching. The demand and supply curves for private basketball coaching are Qd = 50
You have made deposits of $1000 per year in an investment account at the end of each year (beginning at the end of the first year) for ten years. The account earned 6% compounded annually for the first 5 years and 9% compounded annually.
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