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You have recently moved to Hanscom AFB MA and need to make a decision between living in base housing or buying a home in the local market. Compare the following costs and benefits on an annual basis. The purchase price of the home is $250,000 and you pay $2,500 in closing costs today. You borrow the money to buy the home at a 5.5 percent annual interest rate which makes your annual house payment $12,000 (paid at the end of each year in years 1-3). Additionally, you pay $4,000/yr in utilities, $4,000/yr in taxes and house insurance, and $2,000 in maintenance and improvement projects (all cost are incurred at the end of each year). You will not incur any of these costs if you live in base housing. The annual benefits from owning the home are your housing allowance of $10,000 and tax savings of $2,000 (received at the end of each year). The opportunity cost of your best alternative investment is 7 percent, so this is your discount rate for calculating present value. You plan to sell the home at the end of the 3rd year for $240,000. The costs you will incur to sell the home at the end of the third year are a 6 percent realtor commission ($15,000), and the $193,000 remaining on the loan.
What is the net cash flow at the end of Year 1?
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..
Jen left a job paying $60,000 per year to start her own florist shop in a building she owns. The market value of the building is $150,000. She pays $40,000 per year for flowers and other supplies, and has a bank account
The following hypotheses are given. H0 : 0.71 H1 : > 0.71 A sample of 100 observations revealed that p=0.85. At the 0.02 significance level, can the null hypothesis be rejected (a) State the decision rule. (Round your answer to 2 decimal places.)
How much interest is payable each year on a loan of $2000 if the interest rate is 10% per year when half of the loan principal will be repaid as a lump sum at the end of four years and the other half will be repaid in one lump-sum amount at the en..
If the AD shortfall is $800 billion and the MPC is 0.8, (a) How large is the desired fiscal stimulus (b) How large an income tax cut is needed how much more government spending would achieve the target
Assume Firm Y's production function is given by the following Cobb Douglas equation: Q = 0.5 x L0.6 x K0.5 where L denotes labor and K denotes capital. a. Does the production function exhibit increasing, decreasing or constant returns to scale
i) If there is no trade in this market between the US and the rest of the world, what is the equilibrium price in the US market (ii) If there is no trade in this market between the US and the rest of the world, what is the equilibrium price in the ..
The supply curve for cars is given by the following: Qs = 2p-1000. Further the demand curve for cars is given by Qd = 8000 - p. In the equilibrium for the car market own price elasticity of demand (in absolute value terms) is equal to
In 1994, the marginal cost of producing the Power Mac was about $1500 per unit, and a rough estimate of the monthly demand curve was: P= 4500-.15Q. At the time, what was Apple's optimal output and pricing policy
A coal mining company has a supply curve of W=48 + (72/2000)L and Demand of P= 60- (9/4000)Q. coal miners produce 8 tons of coal a day. they max profit. How many workers will be hired.
When it is 105 degrees outside and you get thirsty, how much you willing to pay for a 16-ounce bottle of water. If the price is $1.50 per bottle, do you have a consumer surplus or is there a producer surplus or both
Suppose a special tax was introduced that used the value of one's automobile as the tax base. Each person would pay taxes equal to 10 percent of the value of his or her car. Would the tax be proportional, progressive, or regressive
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