The current gasoline price is 5$ per gallon, and it is projected to increase next year by 5%, 8% the following year, and 3 % the third year. What is the average inflation rate for the projected gasoline price for the next three years

The purchase of a car requires a $30, 000 loan to be repaid in monthly installments for four years at 18% interest compounded monthly. If the general inflation rate is 6% compounded monthly, find the actual and constant dollar value of the 20th payment of this loan. Include both a CFD in actual dollars and a CFD in constant dollars.

Required information In wisely planning for your retirement, you invest $18,000 per year for 20 years into a 401K tax-deferred account. Assume you make a real return of 10% per year when the inflation rate averages 2.8% per year. How many future dollars will you have in the account immediately after your last deposit? You will have $ |future dollars in your account immediately after your last deposit.

Required information For many years, college costs (including tuition, fees, and room and board) increases have been higher than the inflation rate, averaging 5% to 8% per year. According to the College Board's Trends in College Pricing, the average total costs at present in dollars is $22,000 for students attending in-state four-year public colleges and universities and $41,500 for students at four-year private colleges and universities. Assume an additional $4,300 per year for textbooks, supplies, transportation, and other expenses. Using a 7% per year inflation rate, how much can a sophomore high-school student expect to spend on in-state tuition, fees, and room and board for the freshman year (3 years from now) at a four-year public university? (Round the final answer to three decimal places.) A sophomore high-school student is expected to spend $ for the freshman year.

A man desires to have a preplanned amount in a savings account when he retires in 20 years. This amount is to be equivalent to $30,000 in today’s purchasing power. If the expected average inflation rate is 7% per year and the savings account earns 5% interest, what lump sum of money should the man deposit now in his savings account?

An engineer who is now 65 years old began planning for retirement 40 years ago. At thattime, he thought that if he had $1 million when he retired, he wouldhave more than enoughmoney to live his remaining life in luxury. Assume the inflation rate over the 40-year timeperiod averaged a constant 3.7% per year.a) What is the CV purchasing power of his $1million at age 65? (Hint: Use the day he started 40 years ago as the base year.)b) How manyfuture dollars should he have accumulated over the 40 years to have a CV purchasing powerequal to $1.3 million at his current age of 65?

Required information In wisely planning for your retirement, you invest $34,000 per year for 20 years into a 401K tax-deferred account. Assume you make a real return of 10% per year when the inflation rate averages 3.3% per year. How many future dollars will you have in the account immediately after your last deposit? You will have $ | future dollars in your account immediately after your last deposit.

A father wants to save in advance for his eight-year-old daughter's collegeexpenses. The daughter will enter the college 10 years from now. An annualamount of $20,000 in today's dollars (constant dollars) will be required to support her college expenses for four years. Assume that these college payments will be made at the beginning of each school year. (The first payment occurs at the end of 10 years.) The future general inflation rate is estimated to be 5% per year, and the interest rate on the savings account will be 8% compounded quarterly (market interest rate) during this period. If the father has decided to save only $500 (actual dollars) each quarter, how much will the daughter have to borrow to cover her freshman expenses?(a) $1,920(b)$2,114(c) $2,210(d)$2,377

Question 7 The price of a product was $0.88 in the year 2008 and $1.28 in the year 2018. What is the average annual inflation rate for this product? 3.82 % 3.68% 3.42 % 3.98 % Question 8 If the CPI for January 2008 is 208.837 and the CPI for December 2018 is 255.539, what is the average annual inflation rate (per year) from Jan 2008 to Dec 2018? (Hint: Calculate monthly inflation rate and then use annual effective interest rate) O 1.65 % ☐ 1.75% O 1.95 % O 1.85 %

If a 2​-percent increase in the price of corn flakes causes a 10​-percent decline in the quantity​ demanded, what is the elasticity of​ demand?