Bob and Carol are planning for the birth of their first child exactly four years from today. They are now ready to start their savings plan for the big event. The current hospital cost for having a healthy baby at the local hospital is $6500 after all insurance payments. Pre-natal care for the immediate 12-month period prior to having the baby amounts to $2000 out-of-pocket costs. Carol’s best friend is planning a baby shower, so only a crib, a baby carrier, and other miscellaneous items will be needed, which all cost $1,200 today. However, these items will be purchased and paid for the day of the child’s birth, and the items are expected to increase in costs by 10% each year over the next four years due to inflation.
Bob and Carol now have $500 in cash that they plan to put in the bank in order to cover the all the new costs. Also, Uncle Ted has promised to contribute $1000 at the end of year two, as a present to Bob and Carol for baby expenses.
Currently, Bob and Carol can earn 6% compounded annually on this money. In order to be able to pay cash for all these expenses on the day the baby is born, how much will Bob and Carol have to save, assuming the baby is born exactly four years from today
Questions:Draw the timeline that illustrates the timing of all the events of the situation described above.How much will Bob and Carol need to have in the bank on the day the baby is born in order to achieve all their goals?What amount needs to be saved at the end of each year in order for Bob and Carol to reach their financial goals?
Obviously oligarchic states are additionally reliant on exchange with different nations. This influences the choices oligarchs can make over their states economy. Over that different nations can force endorses on nations when they attempt certain activities that conflict with the estimations of the nations that they need to exchange with. This can largy affect the economy. This occurred in Russia after NATO nations forced financial authorizes on Russia after the extension of Crimea in 2014. This made the development of the GDP decrease and lead up to a development of 0% in 2016. (Tracker, 2015) over that the authorizations prompted exchange preoccupation happening which implies that in any event, when approvals are lifted there is no requirement for NATO nations to come back to exchange with Russia giving Russia a powerless arrangement position. Simultaneously Europe is subject to Russia because of its enormous stock of gas. With 37% of European gas originating from Russia, (Kottasová, 2018) Russia has an incredible situation over Europe. There is a comparative circumstance in Saudi Arabia where authorizations have been forced after the death of columnist Jamal Khashoggi. Anyway like Russia the world is as yet subject to Saudi oil. This shows how the universal economy of an oligarchic state is subject to the activities of their pioneers yet additionally how subordinate theocracies are on their assets. This implies if an oligarchic state would not have assets which different nations are subject to they could be totally stopped by sanctions. This is imperative to note while examining whether an imperious or oligarchic state would be better. 3.3 Characteristics of the European economy After the Second World War, the European nations needed to ensure that another war could never happen again. The Netherlands, Belgium, France, Italy, Luxemburg and West Germany saw that a significant advance for forestalling another war in Europe was monetary participation. In this way these six nations framed the European Coal and Steel Community in 1951. (Fligstein, 1999) Due to the achievement of the European Coal and Steel Community, these six nations needed to increment monetary collaboration and combination by shaping another financial association: the European Economic Community. “The EEC shaped to extend the exercises of the partnership to collaboration in farming approaches and different mechanical strategies. The Treaty of Rome which delivered the EEC, had the objective of diminishing levies and other exchange obstructions, along these lines advancing unhindered commerce and monetary development.” (Fligstein, 1999) The EEC got mainstream and nations as the United Kingdom and Greece chose to join the financial association. The EEC advanced a free interior market and accordingly invigorated monetary development in Europe. This implies the EEC advanced a free market economy and attempted to restrain the utilization of taxes and exchange boundaries. The individuals from the EEC all concurred that financial collaboration united them both monetarily and strategically. This brought about the development of the European Union in 1993. From this story one can presume that since the finish of the Second World War, European nations have been centered around keeping up a free European market and on invigorating financial collaboration. As brought up by dr. Nienke de Deugd, activities of European nations that compromise the free European market will be dismissed by the EU. The EU will never utilize savagery to accomplish their objectives, yet will concentrate on forcing sanctions against the express that discourages one of their key qualities, both monetarily and strategically. (De Deugd, 2018)>GET ANSWER Let’s block ads! (Why?)