Answer: I'll need $2,14,309.02 in my savings account in order to make tuition payments over the next four years.
We follow these steps in order to arrive at the answer:
In this question, we need to take into account that we need to pay 35% as taxes on interest earned.
So even though the interest rate on the deposit is 5%, only 
will be available for use.
Hence, effectively the deposit will only earn 
or 3.25% interest after taxes.
We'll compute the the Present Value of the annuity of 58,000 for four years at 3.25% interest in order to determine the amount that is needed today.
The Present Value of an Annuity formula is
Substituting the values in the equation above we get,
Answer:
$8,395
Explanation:
You will have
$4,150 x (1 + 0.073)^10 = $8,395 at the end of 15 years from today.
Each van carried 11 students and each bus carried 45 students
Answer:
The principle or model of voluntary exchange assumes that people will act based on self-interests. This is an important component of a healthy economy. If individuals in a market economy do not feel that they will benefit from the exchange, they would not be willing to make it.
Hope this helps!
Answer:
In simple words, positive externalilty refers to the phenomenon under which an etity or an individual takes advanatage of any sctions made bo some other entity. Education helps to make individual build a strong character which further results in overall development of the society.
Free university education in Texas would be good for society in terms of quality education becoming cost effective to everyone and thus everyone would be able to sign up for college degree. This would end up making university education accessible to all and improve their standard of living.
However, on the other hand, free university education might make them take things for granted, and the seriousness of education would be significantly reduced. At the very same period, it will be very costly for the state to employ a professional faculty to provide education.
