n 2012, per capita spending on health care in the United States was about $9,000. If this amount increased by 7 percent a year, what would be the amount of per capita spending for health care in 8 years

The amount of per capita spending for healthcare in 8 years, would be:

$15,460.

Explanation:

a) Data and Calculations:

Per capita spending on healthcare in the US in 2012 = $9,000

Rate of increase of per capita spending on healthcare = 7%

Period of years for the per capita spending on healthcare = 8 years

Future value can be determined using the Future Factor of 1.718 * $9,000 = $15,462

Using online finance calculator yields:

FV (Future Value)$15,463.68

PV (Present Value)$9,000.00

N (Number of Periods)8.000

I/Y (Interest Rate)7.000%

PMT (Periodic Payment)$0.00

Starting Investment$9,000.00

Total Principal$9,000.00

Total Interest$6,463.68

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answer; /// (b) i believe its that is paid to state and federal taxing authorities;