The Seattle Thunderbolts, a professional basketball team, currently sells season tickets for $375. The team plans to adjust ticket prices based on the projected inflation rate of 3.2% starting four years from now. What will the season ticket price be in four years?
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- The Portland Stallions professional football team is looking at its future revenue stream from ticket sales. Currently, a season package costs $425 per seat. The season ticket holders have been promised this same rate for the next five years. Six years from now the organization will raise season ticket prices based on the estimated inflation rate of 3.5%. What will the season tickets sell for in six years?An item costs $500 today. If inflation is expected to be 4% per year, what will be the price of the item in 3 years? a) $548.80 b) $562.43 c) $578.24 d) $590.48The average cost of a certain model car was $22,000 ten years ago. This year the average cost is $35,000. (a) Calculate the average monthly inflation rate (fm) for this model. (b) Given the monthly rate fm, what is the effective annual rate, f, of inflation for this model? (c) Estimate what these will sell for 10 years from now, expressed in today’s dollars.
- Postal Express is considering the purchase of a new sorting machine. The sales quote consists of quarterly payments of $37,200 for five years at 7.6 percent interest. What is the purchase price? Can the excel and calculator solution be provided?Please answer quickly and correctly Inflation is expected to average 4.4% per year for the next 24 years. How much money will be required, 24 years from now, to buy the same amount of goods and services as $1 does today (to the nearest cent)?Someday you hope to retire and have $200,000 of income a year in today's dollars. You want to fund 25 years of retirement. During retirement, your investments will earn 4% annually. In the 30 years before retirement, your investments will earn 9% annually. The estimated inflation rate over the entire period is 3% annually. Assuming all payments are at the end of the period and that all numbers are given in nominal terms unless otherwise stated. How much do you have to save annually during the 30 years before retirement to achieve your goal?
- The Diagonal Stamp Company, which sells used postage stamps to collectors, advertises that its average price has increased from $1 to $9 in the last 10 years. Thus, management states, investors who had purchased stamps from Diagonal 10 years ago would have received a 100% rate of return each year. What is the annual rate of return? The answer in the textbook is given as 23.11%. Can you please show how to get that?Assume that the rate of inflation is 4 percent and continues indefinitely and that the cost of a car is currently $27,000. How much will that car cost 30 years from today? Round your answer to the nearest dollar.In some housing markets, it is predicted that homes will continue to appreciate at 4% per year into the future. If you purchase a home for $435,500.00, what can you expect to sell it for after 11 years, if this appreciation percentage is correct?
- Apple Watch NFTs are being released 18 months from today. The expected price of one of these will be $1,165 and you want to be first in line to get one. How much do you need to have in your account today to buy one of these NFTs in 1.5 years? Your account earns 0.7% monthly interest. (Round to the nearest dollar)The Home Depot is clearing out lawn mowers for $399.75 in an end-of-season sale that ends on September 30. Alternatively, you could wait until April 1 (assume February is in a non–leap year) and pay $419.95 on the same lawn mower. Assume your money can earn simple interest of 4.72% on a short-term investment.a. Which option should you choose?b. How much money will you have saved on September 30 by making that choice?A holder of a 90-day bill with 40 days left to maturity and a face value of $ 100, 000 chooses to sell it into the market. If bills maturing in 40 days are currently yielding 1.75% per annum, what price will be obtained? (Assume there are 365 days in a year, and answers must be rounded to two decimal places) $ Please only use a plain number as your answer and don't insert a comma. For example, if you get 1000, please use 1000, and don't use 1,000.