Answer:
76 months
Explanation:
If Lisa only pays the $20 minimum monthly payment, it will take her 76 months to repay her debt (6 years and 4 months). She will also end up paying almost $540 in interest.
If you have a credit card it is never a good idea to pay only the minimum monthly payment since you will end up paying a lot of interest and usually other fees and charges apply.
Answer:
The amount of total interest Cameron will earn on his investments at the end of 3 years is $1,171.80.
Explanation:
Let:
P = Principal
r = interest rate
t = number of years
n = number of times the interest is compounded in a year
Therefore, we have:
Interest on the account with simple interest after 3 years = P * r * t = $3,000 * 2.7% * 3 = $243
Interest on saving account after 3 years = (P * (1 + (r/n))^(n * t)) - P = ($5,000 * (1 + (1.8%/3))^(1 * 3)) - $5,000 = $90.54
Interest on certificate of deposit after 3 years = (P * (1 + (r/n))^(n * t)) - P = ($5,000 * (1 + (3.9%/3))^(4 * 3)) - $5,000 = $838.26
Total interest earned after 3 years = Interest on the account with simple interest after 3 years + Interest on saving account after 3 years + Interest on certificate of deposit after 3 years = $243 + $90.54 + $838.26 = $1,171.80
Therefore, the amount of total interest Cameron will earn on his investments at the end of 3 years is $1,171.80.
Explanation:
Since measuring the effective interest rate and effective interest rate of 4,6% multiplied per month, the effective rate was 4,6980 dollars annually, so she did not use the right option and preferred the lower rate because she was on a lower rate of return while she was a continual companion.
In this issue, the rate of interest has Adjusted and the interest rate paid for this monthly compound is higher than what the interest rate is offered. The rate of the continuous compounds is also higher than the rate of interest offered on the monthly compounding.
Answer:
It is called d. the Coase theorem
Explanation:
"If private parties ... over externalities on their own" is the common wording of the Coase theorem.
Besides the commonly mentioned requirement that transaction cost must be zero, there are other assumptions to be satisfied including:
1. Clearly defined property rights (to bargain on)
2. No wealth effects (because the money you receive/pay for the benefits/costs will make you poorer/richer and change how valuable they are to you)
