Martin wants to provide money in his will for an annual bequest to whichever of his living relatives is oldest. That bequest will provide $ 1 comma 000 $1,000 in the first year, and will grow by 6 6% per year, forever. If the interest rate is 12 12%, how much must Martin provide to fund this bequest?

Suppose the production function in an economy is y = k0.5l0.5, where k is the amount of capital and l is the amount of labor. the economy begins with 64 units of capital and 16 units of labor. use a calculator and equations in the chapter to find a numerical answer to each of the following questions. what are the wage and the rental price of capital? the wage is equal to unit(s) of output and the rental price of capital is equal to unit(s) of output.