Question
In: Finance
If a person spends $10 a week on coffee (assume $500 a year), what would be...
If
a person spends $10 a week on coffee (assume $500 a year), what
would be the future value of that amount over 8 years if the funds
were deposited in an account earning 3 percent? Round your FVA
factor to 3 decimal places and final answer to the nearest whole
dollar.
Solutions
future value = $ 634
jeff jeffy answered 2 years agoRelated Solutions
Many people consume eggs and toast at breakfast. Assume the typical person spends $15 per week...
Many people consume eggs and toast at breakfast. Assume the
typical person spends $15 per week on eggs and toast. Currently the
price of eggs is $0.75 per egg, and the price of toast is $0.50 per
piece.
(a) (10 points) Graph the budget constraint budget
constraint.
(b) Assume that some people have a utility function given by U =
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i....
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should not be 10 hours per week, and decide to collect your own
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A. What is compounding? What would the future of $500 be after 5 years at 10%...
A. What is compounding? What would the future of $500 be after
5 years at 10% compound interest rate?
B. Find the interest rate, I on a
given security that costs $100 and that will return $150 after 10
years.
2. Many people consume eggs and toast at breakfast. Assume the typical person spends $20 per...
2. Many people consume eggs and toast at breakfast. Assume the
typical person spends $20 per week on eggs and toast. Currently the
price of eggs is $1 per egg, and the price of toast is $0.25 per
piece.
(a) (10 points) Graph the budget constraint budget
constraint.
(b) Assume that some people have a utility function given by U =
min[2T, E] where T is the quantity of toast measured in slices, and
E is the quantity of eggs....
Assume that a welfare program pays $200 per week if a person does not work and...
Assume that a welfare program pays $200 per week if a person
does not work and reduces the welfare benefit of dollar for dollar
with earnings. Assume that the individual does not have any other
non wage income. Also assume that the individual has a market wage
rate of $10/ hour. Assume a maximum of 120hours of leisure per week
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What is the breakeven level of earnings under the program? What
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Assume that a welfare program pays $200 per week if a person does not work and...
Assume that a welfare program pays $200 per week if a person
does not work and reduces the welfare benefit of dollar for dollar
with earnings. Assume that the individual does not have any other
non wage income. Also assume that the individual has a market wage
rate of $10/ hour. Assume a maximum of 120hours of leisure per week
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What is the breakeven level of earnings under the program? What
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Consider the following Data: Year Tea (L per person) Coffee (L per person) 1994 42.4 95.85...
Consider the following Data:
Year
Tea
(L per person)
Coffee
(L per person)
1994
42.4
95.85
1995
42.12
97.28
1996
47.61
87.62
1997
60.86
92.04
1998
55.58
99.21
1999
50.61
95.63
2000
49.89
97.42
2001
56.77
93.93
2002
62.53
95.67
2003
68.31
99.25
2004
69.88
101.31
2005
72.99
101.68
2006
71.36
104.02
2007
90.78
106.09
2008
74.7
105.8
2009
67.15
102.15
2010
67.03
101.15
2011
87.83
104.05
2012
93.4
102.7
2013
78.9
105.28
2014
111.32
106.3
2015
98.39
104.96
2016...
Consider the following Data: Year Tea (L per person) Coffee (L per person) 1994 42.4 95.85...
Consider the following Data:
Year
Tea
(L per person)
Coffee
(L per person)
1994
42.4
95.85
1995
42.12
97.28
1996
47.61
87.62
1997
60.86
92.04
1998
55.58
99.21
1999
50.61
95.63
2000
49.89
97.42
2001
56.77
93.93
2002
62.53
95.67
2003
68.31
99.25
2004
69.88
101.31
2005
72.99
101.68
2006
71.36
104.02
2007
90.78
106.09
2008
74.7
105.8
2009
67.15
102.15
2010
67.03
101.15
2011
87.83
104.05
2012
93.4
102.7
2013
78.9
105.28
2014
111.32
106.3
2015
98.39
104.96
2016...
Assume that the probability that a person is killed by coronavirus in a year is, independently,...
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c. Approximate the probability that ONO or more people are
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d. Approximate the probability that in...
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