Answer:
The correct answer is $81,400.
Explanation:
According to the scenario, the given data are as follows:
Current earning = $74,000
As Brad is searching for a city which is 10% higher than current city then to maintain same living he has to earn 10% more than he earns.
So, total earning needed = $74,000 + 10% of $74,000
= $74,000 + $7,400
= $81400
Hence, the total earning brad needed is $81,400.
Answer:
The question is missing the below options:
$1,333.33
$1,401.49
$1,108.91
$1,282.16
$1,487.06
Monthly payment is $1,401.49 as shown below
Explanation:
In calculating the amount of each monthly payment, PMT formula in excel comes very handy.The formula is stated below:
PMT(rate,nper,pv,-fv)
The rate is the percentage of interest payable on the loan considering that repayment is made monthly, hence the rate in this case 9.2% divided by number of repayments in a year,12
rate=9.2%/12=0.007666667
nper is the number of times repayment would be made, which is calculated as five years multiplied by the number of repayments in a year i.e 5*12=60
pv is the actual amount borrowed , 80%*$84000=$67200
The fv future value is nil
PMT(0.007666667
,60,67200,0)
PMT=$1,401.49
Find attached as well.
Answer:
C:an increase in both the inflation and real growth rates in the short run.
Explanation:
According to the AD-AS model, if the economy is initially at its long-run potential growth rate, then a temporary increase in the growth rate of investment spending will cause an increase in both the inflation and real growth rates in the short run.
INVESTING IS THE CORRECT ANSWER ]