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A new office building was constructed five years ago by a consulting engineering firm. At that time the firm obtains a bank loan for $100,000 with a 12% annual interest rate, compounded quarterly. The terms of the loan call for equal quarterly payments to repay the loan in 10 years. The loan also allows for its prepayment at any-time without penalty.
Due to internal changes in the firm, it is now proposed to refinance the loan through an insurance company. The new loan would be for 20 years term with an interest rate of 8% per year, compound quarterly. The new equal quarterly payment would repayable loan in 20 years period. The insurance company requires the payment of a 5% loan initiation charge (often describes as “five point loan fee”) which would be added to the new loan.
What is balance due to the original mortgage if 20 payments have been made in the last five years?
What is the difference between the equal quarterly payment on this present bank loan and the proposed insurance company loan?
Suppose the economy's production function is Y = A(300N – N^2). The marginal product of labor is MPN = A(300 - 2N). Suppose that A = 10. The supply of labor is NS = 0.05w + 0.005G. what are the real wage, employment, and output?
Assume that the market for Coca-cola in your area is perfectly competitive, with Demand P= 11-0.1Qd and supply P= 1+ 0.1Qs. Each firm that sells Coca-cola is indentical, with Total Cost TC= 1+0.5Q+2Q? Which gives Marginal Cost MC= 0.5+4Q. Currently t..
Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to
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q. eisler company consigned 80 freezers costing 500 each to company. the cost of shipping the freezers amounted to840
If the government uses a tax to get producers to internalize their externality, what is the net price received by producers.
Suppose a widget manufacturer has an infinitely substitute production function, q=3L+2K, given that MPL= 3, MPK= 2. If both the wage rate and rental rate are $10. What is the cost-minimizing combination of L and K to produce 60 units of output. How m..
the government implements a 25% tax on labor income as a way to raise revenue. Calculate the excess burden resulting from this tax, and illustrate your answer with a graph
When abdominoplasty costs were $6,000, Dr. Hurwitz treated 300 patients. When they dropped the price to $5,000, customers increased to 400. What is the elasticity of demand for abdominoplasty using arc elasticity or the midpoints formula (rounded-off..
Donna buys goods X and Y. She can just afford the bundle X=6 and Y=11. She can also afford X=12 and Y=8.Each of these bundles exhausts her income. Draw Donna's budget line. What is the ratio of the price of x to the price of y? If Amy spent her entir..
Economic theory would suggest that the profitability of an industry would be
Derive the monopoly output for period A, disregarding production in period B. What kind of equilibrium in terms of top dogs, etc. is this?
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