1. California is a large producer of strawberries. Oh No! There is a killer frost that kills half of the crop! (A)How has this affected supply or demand of strawberries? (B)What has happened to the price of strawberries? Please justify your answer by graphing the change in either supply or demand, as well as the change in price.
4. You took an amazing class at the U that changed your life, so now you are going to invest for your retirement. Your tax bracket is 25% federal and 5% state. Your investment is in a federally and state tax free account that earns 11% each year, what interest rate are you effectively earning on your investment?
6. How much will you have effectively earned if you invest $4,000 each year for the next 35 years (please use the rate you got in question 2)?
9. It's time to get a new laptop that is $2500. If you finance it, you will be charged 8% annual interest and it will take you two years to pay it off, paying each month. (A)How much will you pay each month for this laptop?(B)What are your total acquisition costs of financing the laptop?
11. It's time to get a new laptop that is $2500. If you save up for it each month it will take one year in an account that earns 5% annual interest. (A)How much would you have to put aside each month to have enough for it?(B)What are the total acquisition costs of saving up for the laptop?
14. You have decided that in order to have a comfortable retirement you will need to replace $65,000 in income each year in retirement.Assuming you will need 20 years of retirement income and an inflation rate of 3.5%, how much will you need to have saved up in order to meet your goal on the day you retire?
17. You are determined to have at least one million dollars on the day you retire. 
18. How much will you need to save each year over the next 40 years of your career in order to meet this goal of $1,000,000 assuming you put you money into an account that averages 10% each year?
 
20. Congrats on buying your first home. You were able to take out a loan for $225,000 at 7% interest for a thirty year loan. (A)What will your monthly mortgage payments be? 
21. (B) How much goes to interest the first month?
22. (C) How much goes to principal the first month?
 
25. You and your spouse just adopted twin girls, little Heather and Beth. You want to make sure they are taken care of for the next 22 years. (A)Based on the following information, how much life insurance needs to be purchased for the husband, if any? 
26. (B) How much, if any, needs to be purchased for the wife?  Assume 3% inflation rate.
 

	Market Labor Value	Household Production Value
Husband	$72,000	$15,000
Wife	$15,000	$40,000

Answer rating: 100% (QA)

A The frost has affected the supply of strawberries by reducing the amount of stra... View the full answer