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(2 points) In 2020, a part-time faculty at a university was paid $6000 per course. The collective agreement provides for a wage increase of 1.1%
(2 points) In 2020, a part-time faculty at a university was paid $6000 per course. The collective agreement provides for a wage increase of 1.1% per year. If the annual rate of inflation is 2%, what will the inflation-adjusted salary per course of the part-time faculty be in 2024? Answer = $ (7 points) On January 1, 2010, Adele invested $150000. The following table shows her average annual rate of return over several periods, each ending on January 1, 2020: 1-year 2-year 5-year 10-year 6.2% 2% 9% 6% a) Find the balance of Adele's portfolio on January 1, 2020. Answer = $ b) Find the balance of Adele's portfolio on January 1, 2015. Answer = $ Click for a hint c) Find Adele's average annual rate of return for the 3-year period from January 1, 2015 until January 1, 2018. Answer = %. d) Suppose that the annual rate of inflation in 2019 was 1.8%. Find the inflation-adjusted average rate of return of Adele's portfolio for the 1-year period from January 1, 2019 to January 1, 2020. Answer = %. (5 points) The force of interest is given by 8, = 0.02 0.05t + 0.043t2. a) Find the accumulated value of $40000 deposited at time t = 3 after 3 years (t = 6). Answer = $ b) Find the 3-year average annual rate of return (from t = 3 to t = 6). Answer = %
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