John wishes to set up an account for his grandfather so that he can have some extra money each month. John wants his grandfather to be able to withdraw $140 per month for the next 4 years. How much must John invest today at 8% per year compounded monthly so that his grandfather can withdraw $140 per month for the next 4 years

Match each event to its effect on the equilibrium interest rate and the amount of investment in the loanable funds market. higher interest rate, greater investment higher interest rate, less investment lower interest rate, less investment lower interest rate, greater investment immediate consumer gratification is no longer preferred by people. an efficient new source of energy effectively increases the return on owning a factory. a wave of retirees stops working and begins drawing on retirement savings.