Economics Please give the proper explanation of the solution with the mathematics including answering the question! As a member of UVic’s University Club, I pay $30 per month in membership fees. In a typical month, I spend about $50 on beer at the Club. Every month I also have the option of attending a meeting of the whiskey club (open only to Club members), at a cost per meeting of $15, payable at the beginning of each meeting. Given this, what do my monthly SUNK COSTS equal? a) $15. b) $30. c) $45. d) $95.
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- Question 1: Know your numbers! You are a student at the University of North Anywhere. There are three components to your education costs each year. There are tuition fees, living in the university Hall of Residence (with free meals), and books (or other required course materials) bought directly from the publishers. Each student's spending on these items in the base year was as follows. Books = $100 Residence = $4,100 Tuition = $5,400 Only the students who were at the university in the base year know the actual dollars spent on each item. You are at the university 10 years later and so do NOT know those amounts. You know ONLY the current year's index of each cost, which are Books = 130 Residence = 120 Tuition = 170 Now the university proposes to raise tuition fees to cover cost increases. The Chair of the Student Council argues: "Look at what's happened to the cost of our education already!! The index of the total costs of books, residence, and tuition is now (130+120+170)/3 = 140.…1. Blake is considering whether to enroll full-time in a two-year, webpage design certificate program. Enrolling in this program requires him to leave his current job and devote all of his available time to his studies. He plans to make his decision based on standard human capital analysis, and has obtained the following data to help with his decision: Direct Costs (tuition and fees in each year): $2,000 Current annual earnings (i.e., w/o the additional education): $5,000 After completing the certificate program, Blake will work 3 years and then retire (thus, this is a 5-period model: t = 0, 1, 2, 3, 4). His estimated annual earnings, post-schooling, in each year are: $11,000 Blake's discount rate is 3% Create a table with the following information (shown in columns): time period, direct costs in each period, indirect costs in each period, expected earnings with additional schooling, and incremental (net) benefits in each period (discounted by the appropriate rate). Given the data,…1. Expenses for Joey's college attendance next year are as follows (in $): Tuition=8400 Dormitory = 5400 Meals Unif(900,1350) Entertainment - Unif(600, 1200) Transportation -Unif(200,600) Bo -Unif(400,800) Here are the income streams the student has for next year: Scholarship = 3000 Parents = 4000 Waiting Tables - Unif(3000,5000) Library Job Unif(2000,3000) Use Monte Carlo simulation to estimate the expected value of the loan that will be needed to enable Joey to go to college next year.
- Prepare the following journal entry: A local college paid $13,800 by check for a future Bus Tour to Las Vegas for a conference next month.Golden Age Retirement Planners specializes in providing financial advice for people planning for a comfortable retirement. The company offers seminars on the important topic of retirement planning. For a typical seminar, the room rental at a hotel is $1,000, and the cost of advertising and other incidentals is about $10,000 per seminar. The cost of the materials and special gifts for each attendee is $60 per person attending the seminar. The company charges $250 per person to attend the seminar as this seems to be competitive with other companies in the same business. How many people must attend each seminar for Golden Age to break even?Megan Berry, a freshman horticulture major at the University of Minnesota, has some financial questions for the next three years of school and beyond. Round your answers for the following questions to the nearest dollar. If Megan's tuition, fees, and expenditures for books this year total $19,000, what will they be during her senior year (three years from now), assuming costs rise 3 percent annually? (Hint: Use Appendix A-1 or the Garman/Forgue companion website.) Round Future Value of a Single Amount in intermediate calculations to four decimal places. $ Megan is applying for a scholarship currently valued at $1,000 at the end of first year. If she is awarded it at the end of next year, how much is the scholarship worth in today's dollars, assuming inflation of 2 percent? (Hint: Use Appendix A-2 or the Garman/Forgue companion website.) Round Present Value of a Single Amount in intermediate calculations to four decimal places. $ Megan is already looking ahead to graduation…
- Suppose your expenses for summer school are as follows: tuition: $5,000, room and board: $3,000, books and other educational supplies: $500. Further, during the term, you can only work part-time and earn $4,000 instead of your full-time salary of $10,000. What is the opportunity cost of going to college this term?Suppose that your colleague has approached you with an opportunity to lend $25,000 to her laundry business in Accra. The business, called Do it yourself launderette, plans to offer home services to customers at area. Funds would be used to lease a delivery vehicle, purchase supplies, and provide working capital. Terms of the proposal are that you would receive $5,000 at the end of each year in interest with the full $25,000 to be repaid at the end of a ten year period Assuming a 10% required rate of return, calculate the present value of cash flows and the net present value of the proposed investment Based on this same interest rate assumption, calculate the cumulative cash flow of the proposed investment for each period in both nominal and present value terms?Suppose that your colleague has approached you with an opportunity to lend $25,000 to her laundry business in Accra. The business, called Do it yourself launderette, plans to offer home services to customers at area. Funds would be used to lease a delivery vehicle, purchase supplies, and provide working capital. Terms of the proposal are that you would receive $5,000 at the end of each year in interest with the full $25,000 to be repaid at the end of a ten[1]year period. a) Assuming a 10% required rate of return, calculate the present value of cash flows and the net present value of the proposed investment. b) Based on this same interest rate assumption, calculate the cumulative cash flow of the proposed investment for each period in both nominal and present[1]value terms. c) If we are to use the monetary approach to exchange rate determination, what will be the predicted effect on the exchange rate of domestic currency if domestic real income increases? d) Using the same…
- TOPIC: ENGINEERING ECONOMICS Specific SYSTEMATICALLY. Show your COMPLETE solutions and BOX your final answers. Express all your answers in 2 decimal places. Instructions: Solve each problem NEATLY and 1. Gian paid an interest of Php 8000 on a salary loan for 5 years at 7 % interest. What was the original loan? How much did he pay at the end of 5 years?Megan Berry, a freshman horticulture major at the University of Minnesota, has some financial questions for the next three years of school and beyond. Round your answers for the following questions to the nearest dollar. If Megan's tuition, fees, and expenditures for books this year total $15,000, what will they be during her senior year (three years from now), assuming costs rise 5 percent annually? (Hint: Use Appendix A-1 or the Garman/Forgue companion website.) Round Future Value of a Single Amount in intermediate calculations to four decimal places. $ Megan is applying for a scholarship currently valued at $7,000 at the end of first year. If she is awarded it at the end of next year, how much is the scholarship worth in today's dollars, assuming inflation of 2 percent? (Hint: Use Appendix A-2 or the Garman/Forgue companion website.) Round Present Value of a Single Amount in intermediate calculations to four decimal places. $ Megan is already looking ahead to graduation…Suppose your expenses for this term are as follows: tuition: $12,000, room and board: $6,500, books and other educational supplies: $1,500. Further, during the term, you can only work part-time and earn $3,500 instead of your full-time salary of $14,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? $13,500 $20,000 $24,000 $30,500