To answer the question above as to Jean's explanation on Say's Law or The Law of Market.. I agree that "if there is a surplus of goods, there must be unmet of demand for others". Jean's explanation is more of a Capitalist style of management.
Answer:
$7,126.78
Explanation:
First, find the present value of the annuity payments at the year Jordan retires.
You can do this question using a financial calculator using the following inputs;
Total duration; N = 35
Recurring payment ; PMT = 75,000
Required return; I/Y = 5%
Future value ; FV = 0 (note: use 0 for FV in this annuity if not given)
then CPT PV(at t=35) = 1,228,064.572
Next, to find the recurring annual payment , $1,228,064.572 would the goal that needs to be achieved hence the Future value at year 35.
FV = 1,228,064.572
N= 35
Interest rate before retirement; I/Y = 8%
PV = 0
then CPT PMT = 7,126.78
Therefore, she must deposit $7,126.78 per year.
The New Deal changed the role of government completely. Before the New Deal, government had essentially no role in steering the economy or in providing for the people. After the New Deal, the government has come to play a huge role in both of these things.
Before the New Deal, the government was expected to be more or less laissez-faire. It was supposed to just stay out of the way and let the economy rise or fall "naturally." If people were too old to work, they needed to rely on family. If a bank failed, its depositors were out of luck. The New Deal changed all of that.
Answer:
a. $2,240
b. $2,880
Explanation:
The computations are shown below:
a. For M1
= Federal Reserve Notes in circulation + Coins in circulation + Checkable deposits
= $700 + $40 + $15,00
= $2,240
b. For M2
= M1 + Savings deposits, including money market deposit accounts (MMDAs) + Small-denominated time deposits + Money market mutual funds (MMMFs) held by individuals
= $2,240 + $140 + $100 + $400
= $2,880
Answer:
convexity = 37.6306
Explanation:
given data:
maturity time = 7 years
yield to maturity (y) = 8% = 0.08
coupon bond = 6%
price= $89.59 ( gotten from the summation of pv(cf) from the table attached below )
t = time
convexity can be found using this formula
= 
= 37.6306
