Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, can someone help me out with C? Thank you Assume personal income was $30 million last year. Personal outlays were $10 million and personal

Hi, can someone help me out with "C"? Thank you

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Assume personal income was $30 million last year. Personal outlays were $10 million and personal current taxes were $7 million. Your answer is correct. What was the amount of disposable personal income last year? Disposable personal income (DPI) (b) Your answer is correct. What was the amount of personal saving last year? Personal savings (PS) (c) X Your answer is incorrect. Calculate personal saving as a percentage of disposable personal income. (Round answer to 1 decimal places, e.g. 527.5.) Savings rate %

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurial Finance

Authors: Steven Rogers

4th Edition

1260461440, 978-1260461442

More Books

Students also viewed these Finance questions

Question

understand the meaning of the terms discipline and grievance

Answered: 1 week ago