If Ty selects a smartphone solely based on its highest megapixel rating, which he deems the most critical feature, he is employing a lexicographic heuristic in his buying decision. The field of heuristics studies how individuals make choices when it is impossible to optimize. It delves into two inquiries: the first is descriptive, while the second is normative.
Response:
$22,419,192.19
Detailed explanation:
Utilizing an Excel sheet, I calculated the future payments and their present worth. If the annual payments rise by $450,000 each year, then the second payment will amount to $1.9 million, not $1.7 million.
Year Payment
0 $1,000,000
1 $1,450,000
2 $1,900,000
3 $2,350,000
4 $2,800,000
5 $3,250,000
6 $3,700,000
7 $4,150,000
8 $4,600,000
9 $5,050,000
10 $5,500,000
Present worth = $22,419,192.19
<span>If the FDIC possesses an insurance fund of $67.8 billion and needs to allocate 7.6% towards covering several failed banks, how much funds remain in the reserve? <span>Approximately $62.65 billion remains in the fund. </span></span>
To calculate:
Approximate remaining funds = ($67.8 billion)(0.076) = $5.15 billion
<span>Approximate remaining funds = $67.8 billion - $5.15 billion </span>
<span>Approximate remaining funds = $62.65 billion</span>
