Question: all questions please! Part II: PROBLEMS 26. In 2021 , the total world population was 7.812 billion people. Population experts predict that this number will
Part II: PROBLEMS 26. In 2021 , the total world population was 7.812 billion people. Population experts predict that this number will grow at a compound rate of 1.18% annually over the next 25 years. If that growth rate is correct, what will be the world population (in billions) in 25 years (i.e., in 2046)? Enter your answer in billions, rounded to 3 decimal places; for example, enter 11.12793 billion as 11.128. 27. The current inflation rate in the U.S. is 8.6% per year. The current price of a gallon of gas in Atlanta is $3.15 per gallon. If the price of gasoline increases at 8.6% per year for the next 8 years, what is the projected price of a gallon of gasoline exactly 8 years from today (i.e., in 2030)? 28. You expect to deposit the following cash flows at the end of years 1 through 5,$1,000;$4,000;$9,000; $5,000; and $2,000 respectively. What is the future account value at the end of year 6 if you can cam 10% compounded annually? 29. What is the effective annual rate (EAR) of 7.18% p.a., but with daily compounding (assume 365 days per year)? 30. Justin won a contest at a local business that paid him a lump sum of $5,000. Justin, who just turned 22 years of age, has decided to invest his $5,000 for 45 years until he retires. During this time Justin believes that his account will earn 13% every year, compounded annually. As soon as he retires (exactly 45 years from today) Justin will start withdrawing retirement funds eyery year for an additional 33 years, but he plans to invest more conservatively at 8% compounded annually during retirement. How much can Justin withdraw each year in retirement? 31. You just graduated and you decided to purchase a new sports car to cnjoy your newfound freedom. Your local credit union will provide financing for 72 months at a 14.8 percent annual rate, compounded monthly. The drive-out price of the car you are buying is $68,000. You must make a 10% down payment (i.e., you must pay the dealer $6,800 immediately) and then you will finance the remaining 90 percent of the purchase price with your credit union (i.e., with a 72 -month loan at a rate of 14.8 percent p.a., compounded monthly). If your first payment is due exactly one month from today, what will be your required monthly payment? 26. In 2021 , the total world population was 7.812 billion people. Population experts predict that this number will grow at a compound rate of 1.18% annually over the next 25 years. If that growth rate is correct, what will be the world population (in billions) in 25 years (i.e., in 2046)? Enter your answer in billions, rounded to 3 decimal places; for example, enter 11.12793 billion as 11.128
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