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You have your eyes on a new automobile costing $25,000. You finance $20,000 at 15%/yr/monthover a 5 year period.The loaner then proceeds to add on a 1.25% loan initiation fee of 250$. There is a prepaid loan closeout fee of 250$, another fee of $100, and one more fee of $480. The monthly payment for the loan is $21,080(A/P 1.25%, 60)= $501.49.
What is the monthly rate of interest you are really paying for the loan?
A consumer, D Carroll, spends all of his income on 2 goods X and Y. The 2 goods are both normal but are not complementary. The price of good X is reduced but the price of good Y is unchanged. The consumer continues to spend all of his income on th..
calculate the V(gdp) using the velocity formula. All given is a LRAS graph with the following information derived from the graph Real GDP = 9 trillion and Price level = 3; Furthermore The AD line intercepts the x axis at 18 trillion and the y axis ..
Draw a histogram of household size variable. On the histogram, mark in the mean and median. Comment on the shape of the distribution and what are the mean and standard error of your sampling distribution
Solve for the equilibrium values of Q and P (So find Q* and P*) as a function of a1, a2, b1, b2. And what restrictions must be placed on the parameters a1b2 and a2b1 so that the value of Q* above makes economic sense?
Construct a graph showing supply and demand in the electronic dog feeder market, using Microsoft Excel. How are the laws of supply and demand illustrated in this graph Explain your answers. What is the equilibrium price and quantity in this market As..
Suppose a country has the following production function: Y=K^(3/4) In this same country, 8%of the capital stock depreciates each year. Additionally, the ecnonmy consumes 60% of output. A)When K=500 is the captial stock growing or shrinking B)When K=4..
Now calculate the GDP deflator for 2011 and 2012 (assuming that 2011 is the base year). d) What is the rate of economic growth between the two years as defined byt he percent change real GDP. e) What is the rate of inflation between the two years?
A loan of P0 which accrues an interest i per period is to be paid of with a uniform gradient annuity with initial payment A and gradient G over n periods. Thus, the change in the amount of principal is governed by Pn =Pn-1(1+i)-A0 -(n-1) G (1)
Assume TC stands for Total Cost, TFC as Total Fixed Cost, TVC as Total Variable Cost, ATC as Average Total Cost, AFC as Average Fixed Cost, AVC as Average Variable Cost, and MC as Marginal Cost. Unit of Output TC TFC TVC ATC AFC AVC MC
Some time ago you put $500 into a bank account for a "rainy day". Since then, the bank has been paying you 1% per month, compounded monthly. Today, you checked the balance and found it to be $708.31. How long ago did you deposit the $500
Assume that you raise the price of a product you have in inventory from $600 to $1,000. After the price increase you notice that your sales of this product have gone from 300 per month to 100 per month. 1. Calculate the price elasticity of demand f..
What is the total cost function T C (q)? What is the fixed cost? What is the variable cost? Find the average cost function, the average fixed cost function, the average variable cost function and the marginal cost function. Draw them in two separ..
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