G . A condominium in Maui now costs $500,000. Inflation is expected to cause this price to increase at 8 percent per year over the next 5 years before you retire from your CFO position in a Big 4 company. How large an equal annual end-of-year deposit must be made into an account paying an annual rate of interest of 12 percent to buy the condominium upon retirement?

$115,643

Explanation:

The condo is now valued at $500,000

--> Future value (FV) of the condo in 5 years in 500,000 x 1.08^5 = $734,664

n = 5 years

i/r = 12%

Present value (PV) of the deposit now = 0 (no deposit has been made)

PMT (Amount of annual deposit need to be made) = ?

In order to find PMT, we need to input all the above info into financial calculator.

PMT = $115,643

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.