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Question: Liam O' Kelly is 20 years old and is thinking about buying a term life insurance policy with his wife as the beneficiary. The quoted annual premium for Liam is $8.48 per thousand dollars of insurance coverage. Because Liam wants a $100,000 policy (which is 2.5 times his annual salary), the annual premium would be $848, with the first payment due immediately (i.e, at age 21) A friend of Liam's suggests that the $848 annual premium should be deposited in a good mutual fund rather than in the insurance policy. "If the mutual fund earns 10% per year, you can become a millionaire by the time you retire at age 65," the friend advises. (4.7)
a. Is the friend's statement really true?
b. Discuss the trade-off that Liam is making if he decides to invest his money in a mutual fund.
From 1992 to 1997, the unemployment rate in the US declined from 7.5% to 4.9%, while at the same time it rose from 8% to over 12% in continental western Europe.
A lone shepherd can graze 10 sheep per year in a meadow. Each additional shepherd who uses the meadow reduces the number of sheep that can be maintained by one.
Show, using Shorthand Economic Form, how you would calculate an equivalent uniform annual amount for cash flows of 800, 200 and 700 in years 1 -3 respectively with an annual interest rate, compounded annually, of 8% for year 0 – 1, 10% for year 1-2 a..
Which of the following will not cause aggregate private spending to decrease?
Brand names can be important to the success of a firm in some industries. Consider industries that demonstrate monopoly, monopolistic competition, oligopoly, and perfect competition.
Find the economic model (yi = Xi + i) a multi-linear model ple), estimation (preferably with software R), and interpretation of parameters
Suppose that the costs of adjustment exhibit constant returns in ?? and ?. Specifically, suppose they are given by C (??/?)?, where C (0) = 0, C (0) = 0.
- Differences between fictional unemployment, structural unemployment, and cyclical unemployment; and - The costs associated with unemployment
What is the level of production when 10 units of labor are employed? What is the fixed cost of production when 10 units of labor are employed? What is the variable cost of production when 10 units of labor are employed
Draw a supply-demand diagram of the Federal funds market which illustrates the effects of a massive Treasury bill sale by the Fed in the open market.
The transmission in the stop band, which extends from 5 kHz to ∞, should not exceed 0.05% of the maximum passband transmission. What are the values of Amax, Amin, and the selectivity factor for this filter?
What were the principal factors that caused the ratio of the purchase of producers' durable equipment to GDP to rise so much during the 1990s?
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