In a reanalysis of published studies, Twenge and Im (2007) found that for the time period of 1958 to 2001, the need for social approval of people in the United States was positively correlated with changes in the Dow-Jones Industrial Average during that same period (the correlation coefficient was 0.10). This means that: a. the need for social approval prevented people from investing money in the stock market. b. the need for social approval caused people to invest more money in the stock market. c. when the need for social approval was high, the Dow-Jones Industrial Average was low. d. when the need for social approval was high, the Dow-Jones Industrial Average was also high.

You are head of the schwartz family endowment for the arts. you have decided to fund an arts school in the san francisco bay area in perpetuity. every 5 years, you will give the school $ 1 comma 000 comma 000. the first payment will occur 5 years from today. if the interest rate is 5.9 % per year, what is the present value of your gift?

Personal financial planning is the process of creating and achieving financial goals? true or false

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u.s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.