15 years from now, your 2-year old son will be attending Harvard. You have determined he will need $70,000 per year for tuition and living expenses (Each year of the college, he needs to pay the $70,000 at the beginning of the year. I. e. the first payment is 15 years from today.). In 15 years, you will give him a lump sum payment for the entire amount he will need, assuming that he will be able to invest the money not yet needed at 5% interest. You have found an investment opportunity that will yield an annual return of 7% on your monthly payments (monthly payments will be deposited at the end of each month. I. e. the first deposit you will make one month from today.). How much will you have to invest each month to give your son the money he needs for his education

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.