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Answer:
We can withdraw an equivalent annuity of $ 293.658 each year.
Explanation:
We build a scheduled table to know the future value of the gradient investment
Time Beg Gradient Total Rate Ending
1 $100.00 $100.00 $100.00 0.060 $106.00
2 $106.00 $100.00 $206.00 0.060 $218.36
3 $218.36 $200.00 $418.36 0.060 $443.46
4 $443.46 $300.00 $743.46 0.060 $788.07
5 $788.07 $400.00 $1,188.07 0.060 $1,259.36
6 $1,259.36 $500.00 $1,759.36 0.060 $1,864.92
7 $1,864.92 $600.00 $2,464.92 0.060 $2,612.81
Then, we solve for the equivalent annuity-due:
PV 2,613
time 7
rate 0.06
C $ 293.658
Itis annuity due as we will going to retire cash in a 6 year period for seven times. (at each year-end during 6 years thus, annuity-due
1st 2nd 3rd 4th 5th 6th 7th
/-------/-------/-------/-------/-------/-------/-------/
1 2 3 4 5 6 7
Answer:
a. $30,000.
Explanation:
Willingness to pay is the highest amount a consumer would be willing to pay for a good or service. In this example, the willingness to pay is $50.
Consumer surplus is the difference between price of a product and the willingness to pay.
To calculate the total consumer surplus , refer to the attached image, the consumer surplus is the shaded triangle.
The total consumer surplus = 1/2 base × (height)
The height is the difference between the willingness to pay and the price of the wine = $50 -$30 =$20
The base is the total quantity purchases at $30 =
1/2 × 3 × ($20) = $30
There are 10,000 consumers, therefore consumer surplus =$30,000
I hope my answer helps you.
