Based on the taylor rule use the following information to calculate the target federal funds rate.
variable value target inflation rate: 2 percent
current inflation rate : 10 percent
real equilibrium federal funds rate : 2 percent
output gap: 8 percent

question: in this case, the federal funds target rate is: (round your solution to one decimal place.)

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Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?