Answer:
Total needed= $2,700,000
Explanation:
Giving the following information:
The deficit for the first year of retirement, 10 years from now, is $90,000. He expects to be in retirement for 30 years and believes he can earn a 7% after-tax annual return on invested dollars. Inflation is expected to average 4% annually over this same period.
Real rate= 7 - 4= 3%
Total needed= 90,000*30= 2,700,000
Answer:
The maximum amount that the lender will be willing to provide to the borrower is $9,006.
Explanation:
Fixed payment for a specified period is know as the annuity. We will use the formula of present value of present value of annuity payment.
APV = C x [ ( 1 - ( 1 + i )^-n ) / i ]
C = Monthly payment = $800
Interest rate =i 8% = 0.08
n = number of years = 30 years
APV = $800 x [ ( 1 - ( 1 + 0.08 )^-30)/0.08 ]
APV = $800 x 11.2578
APV = $9,006
So, The maximum amount that the lender will be willing to provide to the borrower is $9,006.
The New York Federal Reserve Bank Group of president always gets to vote at the FOMC meetings.
A. president always gets to vote at the FOMC meetings.
<u>Explanation:</u>
The FOMC (Federal open market committee) is the the group which implements policies for the federal reserve systems. The New York Federal Reserve Bank Group, The president always gets to vote at the FOMC meetings.
There are 12 members who can vote and nine of the voting presidents of the reserve bank vote once in every three years. The president of the federal reserve bank also votes. the votes are casted in a rotating basis.
Answer:
True
Explanation :
Tea