1. Meet the Runkles: Harry and Marcia. The Runkles have two boys, Brian and Terry. Brian...

1. Meet the Runkles: Harry and Marcia. The Runkles have two boys, Brian and Terry. Brian turns 11 years old in 2020 and starts secondary school in (2021) while Terry is a year younger and starts the year after (2022). The Runkles’ neighbours send their children to a private school. It costs $10,000 p.a. for year 7 and increases at a rate of 15 percent p.a. for years 8, 9, 10, 11 and 12. If, instead of sending Brian and Terry to the private school, they send them to the public school for a total cost of $10,000 each across all years, how much will the Runkles have saved by the end of 2027, when Terry would finish up? [Note: this is not a time value question. Simply add up the differential].

Expert Solution

jeff jeffy answered 1 year ago

Terry will graduate in two years and has started planning for her future. Terry wants to...

Terry will graduate in two years and has started planning for her future. Terry wants to buy a house five years after graduation and the down payment for a house is $70,000. As of right now, Terry has $8,000 in her account. Terry is certain that once she graduates, she can work in her family business and earn annual salary of $48,000, with a 3 percent raise every year. Terry plans to live with her parents for the first two...

Boys and Girls: Suppose a couple plans to have two children and the probability of having...

Boys and Girls: Suppose a couple plans to have two children and the probability of having a girl is 0.50. (a) What is the sample space for the gender outcomes? {bb, bg, gg} {b,g} {bb, bg, gb, gg} {bb, gg} (b) What is the probability that the couple has one boy and one girl? 1 3 1 4 1 2 3 4 (c) What is the probability that the couple will have at least one girl? 1 4 1...

1) If the boys and girls have the same probabilities of being born. What is the...

1) If the boys and girls have the same probabilities of being born. What is the probability that a family of 5 children selected randomly has atleast one boy? 2) Of the pieces produced by a machine in particular, 0.8% are defective. If an aleatory sample of 8 pieces produced by this machine contains two or more defective pieces, the machine will be turned off to make reparations. Find the probability that the machine would turn off for reparations based...

CHOOSING A MODE OF ENTRY John and Marcia Howard have decided to pursue their dream of...

CHOOSING A MODE OF ENTRY John and Marcia Howard have decided to pursue their dream of becoming business owners by becoming sole proprietors of a retail clothing shop. The shop, as they envision it, will carry women's apparel. As they formulate their business plan, the Howards discover that start-up capital required would be $100,000, while projected net income for the first three years would be $10,000, $15,000 and $20,000. John and Marcia were both amazed at the number of details...

Instructions 1. In America, both boys and girls are encouraged to have careers outside of the...

Instructions 1. In America, both boys and girls are encouraged to have careers outside of the home. In contrast, there are other countries in which girls are not only discouraged from working outside the home but also not permitted to have an education. Could such cultural differences contribute to cross-cultural sex differences in cognition? 2. Many studies that assess cross-cultural cognitive differences rely upon meta analyses. Why do you think this is? 3. Do different cultures value certain cognitive functions...

6. Two individuals, Harry and Ron, are both working. Harry faces a 10 percent chance of...

6. Two individuals, Harry and Ron, are both working. Harry faces a 10 percent chance of becom- ing unemployed for three months and losing $12,000 in income. Ron’s probability of becoming unemployed is lower, at 8 percent, but he too would be unemployed for three months and would lose $12,000 in income. a. Suppose the employment insurance benefit rate is 55 percent so that 55 percent of lost earnings are replaced. Calculate the expected payout for Harry and Ron. b....

Your firm represents Amanda and Sam Baker, grandparents of two-year-old Brian Baker. Brian was recently injured...

Your firm represents Amanda and Sam Baker, grandparents of two-year-old Brian Baker. Brian was recently injured in a home accident. The two-year-old stuck a hairpin into an electrical outlet and was severely burned. The parents had not installed safety plugs in the outlets because they felt the plugs gave a false sense of security. The plugs are easily removed and were not present in many of their friends' homes. The grandparents want to bring a negligence suit on the child's...

1. Here is the situation: “Two feral children meet (both are A cases) and there is...

1. Here is the situation: “Two feral children meet (both are A cases) and there is no one around. What happens? Script the interaction that occurs. You must provide the reasons for why the interaction occurred as the hypothesize.

What is necessary in order for a police officer to have authority to conduct a Terry...

What is necessary in order for a police officer to have authority to conduct a Terry weapons frisk? What is the permissible scope of this search? What is the permissible intensity? When, if ever, may police seize items other than weapons discovered during a limited weapons search?

A couple wants to have 2 boys and 2 girls. They will continue to have children...

A couple wants to have 2 boys and 2 girls. They will continue to have children until they have reached the goal.  Assuming that the probability that they have 54% chance to have a boy and 46% chance to have a girl in every pregnancy. No twin or more are possible.  Assuming that their goal is possible and has been fulfilled today! Create at least four hypotheses based on the data file provided! 1) Use a different test for each...

Question