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Home Question Bank Economics Archive 2024 November 07

Economics Questions from Nov 07,2024

Browse the Economics Q&A Archive for Nov 07,2024, featuring a collection of homework questions and answers from this day. Find detailed solutions to enhance your understanding.

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A 40-year-old man in the U.S. has a \( 0.242 \% \) risk of dying during the next year. An insurance company charges \( \$ 290 \) per year for a life-insurance policy that pays a \( \$ 100,000 \) death benefit. What is the expected value for the person buying the insurance? Round your answer to the nearest dollar. Expected Value: \( \$ \square \) for the year A 40 -year-old man in the U.S. has a \( 0.242 \% \) risk of dying during the next year. An insurance company charges \( \$ 290 \) per year for a life-insurance policy that pays a \( \$ 100,000 \) death benefit. What is the expected value for the person buying the insurance? Round your answer to the nearest dollar. Expected Value: \( \$ \) 7.4 Mr Nsele invested \( \mathrm{R} x \) into a savings account. He withdrew R15 000 from the account two years after making the initial deposit. Four years after making the initial deposit, the accumulated amount in the savings account was R75 000 . The account earned interest at the rate of \( 12 \% \) p.a.compounded monthly for the first three years. Thereafter the interest rate changed to \( 8 \% \) p.a., compounded half- yearly. \( 7.4 .1 \quad \begin{array}{l}\text { Calculate the amount that Mr Nsele had in the account three years after } \\ \text { making the initial deposit. }\end{array} \) 7.4 .2 Calculate the value of \( x \), the amount Mr Nsele initially deposited into the account. 1)suppose that the frim oprate in perfectly comptivite market the market price \&10, the frim estimate its cost function with the following function \[ \text { TC =2+10Q-4Q^2+Q^3 } \] A)what level of output should the frim produce to maximzeit. B) Determine The Level Of Profite At Equilibrum? C)what Minimum Price Is Required By The Frim To Stay To Market? Assuming that the value \( A_{0} \) of the painting has grown exponentially: a) Find the value of \( k \), and determine the exponen- tial growth function, assuming that \( A_{0}=17,000 \) and \( t \) is the number of years after 1952 . b) Estimate the value of the painting in 2020 . c) What is the doubling time for the value of the painting? d) After how long will the value of the painting be \( \$ 240 \) million, assuming that there is no change in the growth rate? Peter wants to buy a computer costing R7 950, on a hire-purchase agreement. The conditions of the agreement are: - Peter must pay a deposit of \( 25 \% \) of the purchase price. - Interest is charged at \( 15 \% \) per annum simple interest on the balance. - He must also pay a compulsory monthly insurance premium of R70,75. - The balance is to be settled in monthly instalments. 4.1.1 Calculate the balance after Peter pays the deposit. Assuming that the value \( A_{0} \) of the painting has grown exponentially: a) Find the value of \( k \), and determine the exponen- tial growth function, assuming that \( A_{0}=17,000 \) and \( t \) is the number of years after 1952 . b) Estimate the value of the painting in 2020 . c) What is the doubling time for the value of the painting? d) After how long will the value of the painting be \( \$ 240 \) million, assuming that there is no change in the growth rate? A bankir invested money in two investments. The first investment returned \( 4 \% \) simple interest. The second investment returned \( 14 \% \) simple interest. If the second investment had \( \$ 340.00 \) more money than the first, and the total interest for both investments was \( \$ 170.00 \), find the amount invested in each investment. Find the amount invested in each investment. The banker invested \( \$ \) COMMAS). The banker invested \( \$ \) COMMAS). When hired at a new job selling jewelry, you are given two pay options: Option A: Base salary of \( \$ 12,000 \) a year, with a commission of \( 10 \% \) of your sales Option B: Base salary of \( \$ 21,000 \) a year, with a commission of \( 4 \% \) of your sales In order for option A to produce a larger income, you would need sell at least \( \$ \) \( \square \) of jewelry each year. . 6. För 5 àr sedan köpte Staffan ett par ovanliga sneakers för 3000 kronor. Värdet på skorna har ökat med \( 20 \% \) varje år. \( \begin{array}{l}\text { a) Skriv en formel för hur du beräknar värdet, } y, \\ \text { på skorna efter } x \text { antal år. }\end{array} \) b) Hur mycket är skorna värda idag?
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