Answered: The saving function of an industrial…

The saving function of an industrial project (in millions) is given by (Picture Below) . The marginal propensity to save if the project is 3 million is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The saving function of an industrial project (in millions) is given by (Picture Below) . The marginal propensity to save if the project is 3 million is

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A young couple planning ahead for their retirement has decided that $3 million is the amount they will need in order to retire comfortably 20 years from now. For the past 5 years, they have been able to invest one of their salaries ($50,000 per year, which includes employer contributions) while living off the other salary. They plan to start a family sometime in the next 10 years and when they will have their first child, one of the parents will quit working, causing the savings to decrease to $10,000 per year thereafter. If they have realized an average ROR of 10% per year on their investments, and expect to continue at this ROR, is reaching their goal of $3 million in 20 years sensitive to when they have their first child (i.e., between now and 10 years from now)? If so, how many years from now will they have to wait before they have their first child? Use a future worth analysis.
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