You and Kristy devise a plan to develop an empty parcel of real estate on the south side of Chicago. The development consists of a 400 unit complex comprised of apartments for medium income occupants. The investment requires a down payment of $500,000. A little short on money, you approach your cousin Jimmy who happens to own a fitness center across the street from the potential development and ask to borrow $100,000 to satisfy the down payment. Your sales pitch to Jimmy is that, if the development goes through, then he'll have an influx of new customers, but you don't offer to make Jimmy part of the development deal. You convince Jimmy to let you borrow the $100,000. Ecstatic over the potential of new customers, Jimmy makes major improvements to his fitness center. Unfortunately, the deal falls through, but you still pay back the borrowed funds to Jimmy. Jimmy is now threatening to sue you and Kristy for the amount expended on his improvements. How do you explain the situation to Jimmy?

Suppose your rich uncle gave you $50,000, which you plan to use for graduate school. you will make the investment now, you expect to earn an annual return of 6%, and you will make 4 equal annual withdrawals, beginning 1 year from today. under these conditions, how large would each withdrawal be so there would be no funds remaining in the account after the 4th?

John novosel was employed by nationwide insurance company for fifteen years. novosel had been a model employee and, at the time of discharge, was a district claims manager and a candidate for the position of division claims manager. during novosel's fifteenth year of employment, nationwide circulated a memorandum requesting the participation of all employees in an effort to lobby the pennsylvania state legislature for the passage of a certain bill before the body. novosel, who had privately indicated his disagreement with nationwide's political views, refused to lend his support to the lobby, and his employment with nationwide was terminated. novosel brought two separate claims against nationwide, arguing, first, that his discharge for refusing to lobby the state legislature on behalf of nationwide constituted the tort of wrongful discharge in that it was arbitrary, malicious, and contrary to public policy. novosel also contended that nationwide breached an implied contract guaranteeing continued employment so long as his job performance was satisfactory. what decision as to each claim?

Conor is 21 years old and just started working after college. he has opened a retirement account that pays 2.5% interest compounded monthly. he plans on making monthly deposits of $200. how much will he have in the account when he reaches 591 years of age?