The following table exhibits the age of antique furniture and the corresponding prices. Use the table to answer the following question(s). (Hint: Use scatter diagram and the Excel Trendline tool where necessary).

What is the expected value for a 90 year-old piece of furniture?

a. $934.56

b. $1029.36

c. $1002.45

d. $1033.21

4. (a) Describe and explain “Tragedy of the Commons”. What implications does it have on the pollution problems in terms of whom to be assigned the responsibility of “fixing” it? (b) Apply “tragedy of the commons” to the BP Oil Spill in the Gulf of Mexico in 2010. Explain why it happened (to the extent that it did) and what could have been done (prior to the incident) that could have reduced the probability of it happening. (c) After the incident, Obama vowed to fix this. He ordered a moratorium (temporary suspension of ALL oil rigs in the Gulf). Who does this moratorium benefit?

QUESTION 20

1. Carrie, after selling all of her shares of DD Company, decided to transact in a mutual fund in January 1, 2010. She listed the fund’s returns over a three-year period as shown below:

2. Based on these data, the money-weighted return for the investor is closest to:

Suppose you are given the following end of year stock price data for Random Inc. stock. Assume the returns are normally distributed, calculate the probability that an investor will earn more than 1.5% in a given year (e.g. Prob(Ret>1.5%)). (Enter percentages as decimals and round to 4 decimals). Year Price 2005 50.25 2006 66.49 2007 79.72 2008 83.81 2009 88.38 2010 84.39 2011 91.1 2012 82.17 2013 86.39 2014 76.35 2015 85.47 2016 86.07

Create a class called Car (Car.java). It should have the following private data members:

• String make

• String model

• int year

Provide the following methods:

• default constructor (set make and model to an empty string, and set year to 0)

• non-default constructor Car(String make, String model, int year)

• getters and setters for the three data members

• method print() prints the Car object’s information, formatted as follows:

Make: Toyota

Model: 4Runner

Year: 2010

public class Car {

}

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Time Value of Money Concept

The following situations involve the application of the time value of money concept. Use the full factor when calculating your results.

Use the appropriate present or future value table:

FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of $1

1. Janelle Carter deposited $9,610 in the bank on January 1, 2000, at an interest rate of 15% compounded annually. How much has accumulated in the account by January 1, 2017? Round to the nearest whole dollar.
$__________

2. Mike Smith deposited $23,480 in the bank on January 1, 2007. On January 2, 2017, this deposit has accumulated to $42,049. Interest is compounded annually on the account. What rate of interest did Mike earn on the deposit? Round to the nearest whole percent.
__________ %

3. Lee Spony made a deposit in the bank on January 1, 2010. The bank pays interest at the rate of 10% compounded annually. On January 1, 2017, the deposit has accumulated to $17,750. How much money did Lee originally deposit on January1, 2010? Round to the nearest whole dollar.
$_________

4. Nancy Holmes deposited $4,740 in the bank on January 1 a few years ago. The bank pays an interest rate of 8% compounded annually, and the deposit is now worth $9,475. How many years has the deposit been invested? Round to the nearest whole year.
_________years

Time Value of Money Concept The following situations involve the application of the time value of money concept. Use the full factor when calculating your results. Use the appropriate present or future value table: FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of $1 1. Janelle Carter deposited $9,510 in the bank on January 1, 2000, at an interest rate of 10% compounded annually. How much has accumulated in the account by January 1, 2017? Round to the nearest whole dollar. $ 65,296 2. Mike Smith deposited $22,540 in the bank on January 1, 2007. On January 2, 2017, this deposit has accumulated to $48,662. Interest is compounded annually on the account. What rate of interest did Mike earn on the deposit? Round to the nearest whole percent. % 3. Lee Spony made a deposit in the bank on January 1, 2010. The bank pays interest at the rate of 5% compounded annually. On January 1, 2017, the deposit has accumulated to $15,630. How much money did Lee originally deposit on January1, 2010? Round to the nearest whole dollar. $ 4. Nancy Holmes deposited $4,760 in the bank on January 1 a few years ago. The bank pays an interest rate of 10% compounded annually, and the deposit is now worth $13,581. How many years has the deposit been invested? Round to the nearest whole year. years