Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2012, per capita spending on health care in the United States was about $10,100. If this amount increased by 3 percent a year, what

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
In 2012, per capita spending on health care in the United States was about $10,100. If this amount increased by 3 percent a year, what would be the amount of per capita spending for health care in eight years? Hint: Use Exhibit 1-A. Exhibit 1-8. Exhibit C. Exhibit 1-0 (Round the discount factor to 3 decimal places and final answer to 2 decimal places.) Futuro per capita spending Exhibit 1-A Future Value (Compounded Sum) of S1 after a Given Number of Time Periods Period 19 18 16 114 1.110 1.232 OCON 2 3 4 5 1.080 1.166 1.260 1.360 1.090 1.188 1.295 1.412 89CNI 69P'T 3. 1.587 50 1.050 1.103 1.150 1.216 11:270 1.340 1.407 1.477 1.551 1.629 1.710 1.796 7 8 10 21 30 1.010 1.020 1.030 1.020 1.040 1.063 1.061 1.093 1.041 1.082 1.126 1.051 1.104 1.159 1.062 1.194 1.072 1.149 1.230 1.083 1.172 1.267 2.094 1.195 1.305 1.105 1.219 1.2431384 1.123 1.268 1.426 1.138 1.294 1.469 1.149 1.319 1.513 1.161 1.558 1.173 1.373 1.605 2.184 1.400 1.653 1961.420 14202 1.200 11.452 1.754 1.2201.486 1.800 1:202 2.094 2.427 2.200 3.262 2.692 9 10 11 12 13 14 15 16 17 41 1.040 1.082 1125 1.170 1.217 1.265 1.316 1.369 1.420 1.480 1.539 1.601 1.665 1.732 1.801 1.873 1.948 2.020 2.101 2.191 2.666 1.060 1.124 1.191 12262 1.338 1.419 1.504 1.594 1.689 1.791 1.898 2.012 2.132 2.261 2.397 2.540 2.693 2.054 2.024 3.207 4.292 70 1.070 1.145 1.225 1.311 1.403 1.501 1.606 1.718 1.838 1.967 2.105 2.252 2.010 2.579 2.759 2.952 3.159 1.051 1.999 2.159 2.32 2.518 2.720 2.937 3. 172 3.426 3.700 3.996 1.627 1.828 1.993 2.172 2.367 2.580 2.913 3.066 3.342 3.642 3.970 4.30 101 1.200 1.210 1.331 1.464 1.511 1.772 1.949 2.144 2.358 2.594 2.853 3.138 3.452 2.797 4.177 4.595 5.054 5.560 6.116 1.518 1.685 1.820 2.076 2. JOS 2.559 2.839 3.152 3.498 2.883 4.310 4.785 5.311 5.895 6.544 7.263 0.062 13,585 222092 651001 184.570 st OBCE 1.980 2.079 2.183 2.292 2.402 2.522 2.653 3.86 4.322 7.040 11.47 3.617 2.070 19 20 25 30 40 50 5.142 5.604 SCOOT 7.612 14.274 272457 6.94 10.063 21.225 46.902 10.286 10.420 PICH 13.260 21.402 74.350 17.469 45.259 117.390 7.107 Period 121 1. 120 130 150 300 t 2 1.250 SEAT SODAT 00CT ZENT 1.300 12690 COME ZOOM (SORT 4 5 6 7 22856 1.630 1.062 2.002 1262 1.974 2.441 3.052 3.015 CCCZ SHINE 4.027 6.276 . 09615 ZEI 7.451 9 10 11 12 13 14 15 16 17 18 19 20 25 30 40 50 OSES 161 170 101 190 201 1.140 1.150 1170 1.780 1.200 1.92 1.40 1.21 1.561 1.220 1.01. 1.024 2.005 26074 1.925 2011 2.100 2.280 2.0 2.436 2.565 2.700 2.800 259116 20502 2.660 2.020 3.000 3.329 2.502 2053 3.059 2.220 2.513 3.759 4.021 4.300 3.252 3.510 3.003 4.35 4.785 5.160 707 4.000 4.411 4.802 5.696 6.292 4.652 3.02 6.176 6.777 7.430 4.01 5.937 6.500 7280 0.066 8.916 5.492 6153 6.00 7.699 8.399 9.596 10.699 6.261 2.076 7.900 2,007 10.147 11.420 12:39 7.238 8.132 9.266 105) 11.974 13.590 15.407 8.131 9.B 10.748 12.330 14.129 16.172 18.48 9.276 10.761 122460 14.426 2215 10525 12:35 14.463 16.879 9.673 22.091 26.623 12.056 14.232 16.777 19.748 23.214 27.252 31.943 13.743 16.367 19.461 2.106 2293 32.429 38.JJH 26.462 32.919 40.874 50.658 62.669 27. 95.96 50.250 66.212 85.650 111.070 243.270 184.680 188.00 267.860 30.720 750,380 2,051.700 1,469.000 700.230 1,083.700 1,670.700 2,566.200 33.927.400 5,990.00 9100/400 2.650 2.000 3.105 3.0 .896 6.335 6.363 4.898 5.25 6.254 6.130 7.067 6.066 9.024 8.615 10.192 9.646 11.523 17.000 21.231 29.960 29.116 93.031 132.780 289.000 450.700 11.642 14.552 11.190 22 20.422 35.527 10.604 13.20 170922 23.294 30.288 39.74 91.186 66.542 POS98 55.511 69.389 86236 264.700 807.790 7,523.200 70,065.000 112.460 146.190 190.050 7051640 2.620.000 36119.000 492,929.000 ORCZEZ OLONCES Exhibit I-B Fature Value (Compounded Sum) of S1 Paid In at the End of Each Period for a Given Number of Time Periods (an Annuity) 10 30 19 16 GODNE Period 1 2 3 4 5 50 1.000 2.050 2.030 21 1.000 2.020 3.000 4.122 5.2004 100 1.000 2.100 2.010 3.030 4.000 5.101 111 1.000 21.110 3.342 4.710 6. 1.000 20.000 3:17 4.375 ESTNC 2 4.14 40 1.000 2.040 3122 4.246 5.476 6.633 7.990 9.214 10.583 12.000 13.486 152026 16.627 71 1.000 2.010 2.21 6.440 5.751 7.153 1.654 10.250 11.978 13.016 15.784 17.88 4.641 6.103 7.716 9.607 1.000 2.090 2.220 4.573 5.989 7.523 9.200 11.020 13.021 15.193 9 6.975 8.396 7 6.460 7.662 3.82 10.159 11.464 12.000 14.192 6 2.214 8.216 2:39 10.662 11.567 12.683 13.009 16.207 10 11 12 13 12.579 15.927 1.000 2.000 J. 6.506 3.867 76 1.923 10.637 12.480 14.482 16.645 16.977 21.695 24.215 27152 30.320 33.250 17.050 41.446 3.383 9.255 10.50 12.169 13.012 14.680 15.974 12.293 18.639 20.012 21.012 22.41 TESTBE DINOZ 4.310 5.526 6.102 8.142 9.549 11.023 12.578 14.202 15.917 17,211 19.599 21.99 2355 25.840 28.12 30.539 3066 47.727 66.439 120.000 20130 2014 22.053 26.019 22.61 225550 SONT 20.024 32.000 10.595 20.157 21.762 22.416 25.112 26.870 36.659 15 16 22 10 10 20 25 30 40 50 11.491 13.181 14.972 16.070 0.002 21.015 23:27 25.673 28.213 30.906 33.760 30.70 54.865 19.059 134760 290.10 21.60 24.523 27.223 21.272 35.950 40.545 45.500 5159 62 9.783 11.85 10.166 16.722 19.367 22.713 26.212 30.095 30.05 39.190 44.501 50.396 56.939 6.4.203 114.410 199.020 501.930 17.258 18.430 19.635 20.011 22.01 26243 34.85 UNIT . TOCHI 23.698 25.685 22.67 29.220 90 27.888 10.040 33,999 37.37 10.95 63.249 94.461 1.640 405.510 32.03 40.5 60.402 4.579 56.ES 95202 152.620 46.011 51. 160 80.701 136.J10 27.2010 OTHO 23.106 112.280 25.060 57320 75.401 112.000 9002 164.690 442.590 P300 COUNCEME Period 100 121 15000 20120 150 1.000 160 1.000 188 HOOD 2010 250 1.000 3.000 1.000 20130 171 1.000 20170 2.53 1.000 2 JON 1.000 2.300 3.990 ON CLE 1.606 COC 2 3 6 5 6 40 2.400 6221 61610 4.279 3506 5.066 1.640 5.368 0.993 672 2.766 70II 5.25 7.154 9.442 112 9.000 122256 176503 4 SOY 101230 11.067 11414 11.722 1209 ELORSI 9.603 1252 12 104233 LOR $ H. 233521 TIME STONES 2009 239 22 TOR ING TECH SONCE 4246 SEX ORI SOMET 2.500 542013 68760 CHORE 120W ETTE IND X 4229 97.63 710 516 OO ORER GO GEVO 10 11 12 13 14 13 16 13 1 19 20 25 30 40 SO IHAT 2012 11 120 200 20 2010 20.020 29122 012 AD 2210 CORO GRZ2 12.00 22 4667 SINH UNDE 63.40 702769 0212 1.602 22.02 TOTO 1151 0 155.620 EXE790 22100 356700 4300 5301 77000 270.000 TENGODSODE50,500 2.500 2170M 100.000 OS CENT TWT OMEO 1 79.050 96.022 12 2770070 25.01 CORO SIMO DIENSTE GE 131.170 1SN LLC 73035 100.690 111110 1000 12.CO 1210 273.560 373.950 MOS... 1,101.900 21.222.200 7.343.900 20.000.000 OTXE OS 630.17 110200 130.00 2926110 647.440 2X500 OECHERS OCCHIDE 103NZI 12.610 146.630 342.600 790350 CH10 ORONEOD OOTGLIODORE ROME 1666700 $20.000 120,393.000 COOHESH 1000 MELODY060451 Exhibit 1-C Present Value of Si to Be Received at the End of a Given Number of Time Periods SC 16 120 Period 1 2 21 0.980 19690 0.971 0.943 0.915 10 0.990 0.90 0921 0.961 0.951 0.942 02933 65 0.962 0.925 0.009 0.855 0.926 0.857 0.794 0.735 101 0.909 0.626 0.751 0.683 0.42 ON24 0.906 4 5 6 BRO 60 0.943 0.890 0.840 0.792 0.747 0.705 0.665 0.627 0.592 0.550 0.527 0.063 0.00 0.833 0.789 0.766 70 0.35 0.872 0.016 0.763 0.713 0.665 0.623 0.582 0.540 0.500 0.475 0797 0.212 0.67 0.367 0.507 0,452 0.400 0.630 0.790 0.760 6 0.871 0.053 0.07 0.020 0.804 0.28 0.914 0.905 0.896 0.807 0.839 0.00 0.861 0.853 0.044 10 11 12 13 51 0.952 0.907 0.864 0.823 0.784 0.746 0.711 0.627 0.665 0.614 0.555 0.557 0.530 0.505 0.481 0.450 0.630 0.416 0.396 0.377 0.295 0.231 0.142 0.002 0.917 0.842 0.272 0.00 0.650 0.596 0.547 0.502 0.460 0.422 0.00 0.356 0.326 0.299 0.225 0.252 0.231 0.212 0.222 04702 0.681 0.661 0.602 0.623 0.605 ELLHO 0.564 0.513 0.467 0.024 0.386 0.350 0.19 0.290 0.263 0.239 0.218 199 110 0.901 0.012 0.732 0.659 0.593 0.35 0.482 0.434 0.93 0.352 0.312 0.286 0.250 0.232 0.202 0.108 0.70 05353 0.13 0.124 0.074 0.046 0.015 0.005 0.550 0.500 0.463 0.429 0.397 0.368 0349 0.315 0.292 0.270 0.250 0.232 0.235 0.703 0.676 0.650 0.625 0.601 0.577 0.555 0.534 0.51 02694 0.625 0.650 0.375 0.303 0.200 0.14 0.758 0.703 0.728 0.322 0.267 0.257 0.229 0.265 0.103 0.16) 0.146 0.015 0.88 0.362 0.339 0.017 0.276 0.417 ( TECO 15 16 17 10 19 20 25 30 40 50 ONTRO 0100 0.686 0.673 0.610 0.178 0.820 0.020 0.780 0.742 0.672 0.608 0.570 0.550 0.470 0.412 0.307 0.250 0.31 0.12 0.233 0.174 0.07 0.054 0.258 0.164 0.131 0.067 0.034 0.164 0.142 0.092 0.057 0.023 0.009 0.116 0.104 0.052 0.033 0.011 0.003 0.1493 0.322 0.099 0.046 0.021 0.015 0.032 0.03 Period 130 161 10C 161 0.162 0.75 500 0.667 0.840 0.769 174 0.055 0.231 0.624 ONISMO 350 0.71 0.509 0.406 2 3 24 5 5 0.177 0.769 0.675 0.522 0.530 ORS 0.783 0.693 0.613 0. 0.0 0.425 150 0.670 0.756 0.658 0.572 0.97 0.012 0.76 0.21 ON 400 0.714 0510 0.360 0.260 201 0.833 0.694 0.579 0.402 0.402 05 250 0.800 0.640 0512 0.410 020 0.347 021 0.609 015 OLA ON10 0.314 GRO 0.552 O. 0.41 0.593 0.499 0.419 0.456 ESHO OS CEIRO 001 . 0.455 010 0279 0.202 0.11 0.123 0.094 DAD 0.056 0.003 SOCO 0.) 01205 0201 0.200 0.00 6 0.00 10 0.000 0.227 0.105 OU 0.210 OSTE 0.134 0.107 0.0 0.069 0.055 0.225 0.13 9.16 2012 0.215 0.233 0.194 0.162 O. 0.12 0.093 2.292 0.261 0231 0.200 0-101 060 0.101 VZCOPO 0.296 0.195 12 0.000 0.059 0.032 0.02 0.017 0.012 0.001 0.005 0.002 0.002 0.00 0.0001 0.152 0.130 0.16) ( SPERO 0.296 0.269 0.200 0.176 0.34 0. 0.104 0.00 0.074 0.012 0.012 0.00 ONO 00 CTO 0.00 0.068 0.000 0.035 0.025 0.011 0.013 0.009 0.000 0.003 0.003 0.002 0.002 0.00 TI 12 13 14 15 16 17 1 3 20 25 30 CORO STOVO 0.232 04201 0. 0.160 0.140 0.123 0.103 DO 0.00 0.022 0.01 0.020 ONUS 0.001 0.123 0102 0.09 0.01 0.00 0.001 0.069 0.02 0.099 0.014 0.023 0.060 0053 ON 0.020 0.023 0.014 0.045 ORO 0.000 0.025 0.020 0.023 0.02 DADO 0.002 O 0.027 0.020 0.015 0.011 0.000 0.000 0.009 0.003 0.0021 0.001 0 0 0 TORO OLOVO 0 0.098 OND 0.007 OA060 0.01 0.01) 0.012 0.02 TOONO OTOYO 0.00 DOG 0.010 0.015 ORI 0.016 0.002 O 0 0 0 9OVO CORO COORO 100D 0.012 0.001 0 0 0.00 OH0027 O 0.000 0.003 0.001 OP 0 TONO 0 50 TOONO TOOMO 0.001 0 0 0 0 O Exhibit 1-D Present Value of $i Received at the End of Each Period for a Given Number of Time Periods (an Annuity) Period 19 0.943 41 0.962 1.886 2.775 3.630 4.452 5.242 6.002 6.733 7.435 70 0.935 1. BOB 2.624 3.387 4.100 4.767 101 0.909 1.736 2.487 3.170 3.791 4.355 120 0.893 1.690 2.402 3.037 3.605 BOB 2 3 4 5 6 7 8 9 10 11 12 13 10 15 16 17 18 68C'S 110 0.901 1.713 2.444 3.102 3.696 4.231 4.712 5.146 5.537 5.889 6.207 10 0.990 1.970 2.941 3.902 4.853 5.795 6.728 7.652 8.566 9.471 10.368 11.255 12.134 13.004 13.865 14.718 15..362 16.398 17.226 18.046 22.023 25.808 32.835 39.196 21 0.980 1.942 2.884 3.808 4.713 S.601 6.472 7.325 0.162 8.983 9.787 10.575 11.348 12.106 12.849 13.578 14.292 14.992 15.678 16.351 29.523 22.396 27.355 31.424 30 0.971 1.913 2.829 3.717 4.580 5.417 6.230 7.020 7.786 8.530 9.253 9.954 10.635 11.296 11.939 12.561 13.166 13.754 14.324 14.877 17.413 19.600 23.115 25.730 0.926 1.783 2.577 3.312 3.993 4.623 5.206 5.747 6.247 6.710 7.139 7.536 7.904 51 0.952 1.859 2.723 3.546 4.329 5.076 5.786 6.463 7.100 7.722 8.306 8.863 9.394 9.899 10.00 10.030 11.274 11.690 12.085 12.462 16.094 15.72 12.159 13.256 8.760 9.385 0.917 1.759 2.531 3.240 J.890 4.486 5.033 5.535 5.995 6.418 6.805 7.161 7.487 7.706 8.061 0.313 8.544 8.756 8.950 9.129 2.673 3.465 4.212 4.917 5.582 6.210 6.802 7.60 7.887 8.384 8.853 9.295 9.712 10.106 10.477 10.028 11.158 11.470 12.703 13765 15.046 15.762 5.971 6.515 7.024 7.499 2.943 8.358 8.745 9.108 9.447 9.763 10.059 10.6 10.594 11.654 12.409 5.335 5.759 6.143 6.495 6.814 7.103 7.367 7.606 7.824 8.022 8.202 4.564 4.960 5.328 5.650 5.93 6.194 6.424 6.620 6.011 6.974 7.102 7.250 10.56 11.118 11.652 12.166 12.659 13.114 13.590 15.622 17.292 19.793 21.482 8.559 8.851 9.122 9.372 9.604 9.818 10.675 6.750 6.982 7.191 7.379 7.549 7.702 7.839 7.963 8.422 8.694 3.951 9.042 61 20 25 30 40 50 8.514 9.077 9.427 9.779 9.915 7.469 7.843 8.055 8.244 8.304 10:270 10.757 10.962 ZEC'ET 11.925 12.233 13.301 Period 101 350 140 0.872 1.642 2.322 2.914 3.433 3.889 161 0.862 1.605 2.246 251 0.800 1.440 151 0.070 1.626 2.283 2.055 3.352 2 3 4 5 17 0.855 1.585 2.210 2.743 185 0.842 1.566 2.174 2.690 3.123 201 0.833 1.528 2.106 2.589 2.993 0.741 1.289 1.696 308 0.769 1.361 1.816 2.166 2.436 2.643 191 0.340 1.547 2.140 2.639 3.05 3.410 3.706 3.954 4.163 4339 4.486 3.274 SOU 0.667 1.111 1.407 1.605 1.737 1.824 1.224 1.589 1.809 2.035 2.168 2.263 2. 92CNC 7 3.663 ZOBZ 130 0.885 1.668 2.361 12.974 3.517 3.999 4.423 4.799 5.132 5.426 5.687 5.918 6.122 6.302 6.462 6.604 4.020 LETE 8 6 1.722 2.362 2.68% 2.951 3.161 3.329 3.45) 3.57 2.650 3.25 2.220 2.385 2.500 2253 2.665 2.715 26752 4.160 4.487 4272 3.019 4.639 4.946 4.039 4.344 4.607 4.0 5.02 9.192 5.342 ICONE 6ZCZ COM 2.925 3.019 3.092 3.147 4.031 4.192 4.22 5.53 14074 4.656 4.793 4.90 CESS ( 11 12 13 14 15 16 3.589 3.922 4.207 4.451 4.659 4.036 4.980 5.220 5229 5.24 5.405 5.475 5.34 152584 5.623 SN766 5. 5.724 3.347 5.842 6.002 6.142 6.265 3001 4.735 4.002 4.876 4.90 26799 2.024 1.965 1.977 1.985 1.990 1.99 1.995 1.997 1.998 4.5 4.611 4.6775 4.230 4.775 2.024 3.859 2.414 2.438 2.496 2.469 2.678 2.400 2.689 2.892 2.594 SZERZ 5.668 5.092 SH12 5.222 5.273 LOC 3.249 3:26 J:20) 3.295 3.300 2.36 2.340 CLC 18 19 20 OPON BEN 6.467 6.550 6120 6.15 6.259 3.910 2.920 3.942 3.934 5.81 5.872 5.929 6.092 MONS 4.370 2.497 7.025 7230 7.496 SH03 5.070 5.101 5.193 51235 5.250 3.10 323 5.667 2.850 2.856 2.852 2.357 6.566 50512 4.00 CCC 30 40 50 7.00) 72103 6123 2.000 2.000 2.000 2.000 3.995 3.999 4.000 5.071 HO 2.500 2.500 2.500 7675 6.661 KECHE

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Introduction To Business Statistics

Authors: Ronald M. Weiers

7th Edition

978-0538452175, 538452196, 053845217X, 2900538452198, 978-1111524081

Students also viewed these Accounting questions

Question

x er The mones int

Answered: 1 week ago