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Internal Rate of Return (IRR)
Suppose you are considering switching fields from public health and find the following salary schedule:
Year 0
Year 1
Year 2
Public Health Professional
-5
5
Butler
1
a. Write down (but do not solve) the equation(s) to find the internal rate of return of becoming a butler as opposed to a public health professional. You may use two equations to avoid tedious substitution if you prefer.
b. After some algebra you find the IRR to be 22%. After some soul searching you find your own interest rate is 20%. Which profession do you choose and why? (Assume both professions provide equal job satisfaction and ignore sunk costs such as studying for the exam you are currently taking.)
Determine the maximum initial retirement income that Mr. Lohman can withdraw from the retirement account on the date that he retires in 30 years.
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Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services.
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There is substantial evidence that people base their consumption decisions more on their current income than on the average income they expect to receive over
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Farm must decide whether or not to purchase a new tractor. The tractor will reduce costs by $2,000 in the first year, $2,500 in the second and $3,000 in the third and final year of usefulness. The tractor costs $9,000 today, while the above cost savi..
Assume an American company sells $10 million in goods to a German firm. The American company will receive less than $10 million in revenues if (assume no transactions to prevent exchange rate risk):
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