Travis International has a one-time expense of $1.13 million that must be pald two years from today. The firm can earn 4.3 percent, compounded monthly, on its savings. How much must the firm save each month to fund this expense If the firm starts Investing equal amounts each month starting at the end of this month?a. $38.416.20 b. $45,17202 c. $51,300.05 d. $47.411.08 e. $53.901.15

Monthly deposit= $45,172.20

Explanation:

Giving the following information:

Travis International has a one-time expense of $1.13 million that must be paid two years from today. The firm can earn 4.3 percent, compounded monthly, on its savings.

To calculate the monthly deposit, we need to use the following variation of the future value formula:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

i= 0.043/12= 0.003583

n= 2*12= 24

A= (1,130,000*0.003583)/ [(1.003583^24)-1]

A= 45,172.20

1

explanation:

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi