Unformatted text preview: future values? 3) How much money will Jerry have left over (if any) for spending money if he doesn’t work at all between now and June 1 st , 2010? Economists predict the price of all goods will increase by 15% between October 2006 and June 2010. The local bank has also suddenly decided to increase its APR to 7.5% (MPR = .625%) on October 1 st , 2006. 4) Jerry will now not have enough for his trip. How much will he be short on June 1 st , 2010? 5) If Jerry’s mother contributes $150 to Jerry’s trip on October 1 st , 2006, will he now have enough for the trip? 6) If Jerry’s mother waited until June 1 st , 2010 to give him this $150, would he have enough for the trip?...
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This note was uploaded on 02/26/2008 for the course ECO 001 taught by Professor Gunter during the Fall '06 term at Lehigh University .
- Fall '06