Suppose that nominal GDP was $9250000.00 in 2005 in Midland County Texas. In 2015, nominal GDP was $11250000.00 in Midland County Texas. The price level rose 3.00% between 2005 and 2015, and population growth was 4.50%. Calculate the following figures for Midland County Texas between 2005 and 2015. Give all answers to two decimals.

In a fixed-term, level-payment reverse mortgage, sometimes called a reverse annuity mortgage, or ram, a lender agrees to pay the homeowner a monthly payment, or annuity, and expects to be repaid from the homeowner’s equity when he or she sells the home or obtains other financing to pay off the ram. consider a household that owns a $150,000 home free and clear of mortgage debt. the ram lender agrees to a $100,000 ram for 10 years at 6 percent. assume payments are made annually, at the beginning of each year to the homeowner. calculate the annual payment on the ram.