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Elenna [48]
1 year ago
6

Your friend is going to purchase a car and will finance it. she is borrowing $20,000 at a monthly rate of 0.50 nd will pay it of

f over 5 years. what is the monthly payment?
Business
1 answer:
stiv31 [10]1 year ago
6 0

The monthly payment is $386.67.

<h3>What is the monthly interest rate?</h3>
  • A monthly interest rate is simply the amount of interest charged in one month.
  • This does not include any other fees associated with the loan, and it does not indicate how expensive a loan is.
  • APR, on the other hand, is the annual percentage rate charged on a loan for a year.

So,

  • PV = 20,000, I/y = 0.50, n = 12 × 5, FV = 0
  • CPT PMT which equals $386.67

Therefore, the monthly payment is $386.67.

Know more about monthly interest rates here:

brainly.com/question/2151013

#SPJ4

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Expansionary fiscal policy to prevent real GDP from falling below potential real GDP would cause the inflation rate to be ______
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Expansionary fiscal policy to prevent real GDP from falling below potential real GDP would cause the inflation rate to be _<u>higher</u><u>_</u>and real GDP to be <u>higher.</u>

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What is Expansionary fiscal policy ?</h3>

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In a situation were real GDP fall below potential real GDP this tend to lead to increase in both inflation rate and real GDP.

Inconclusion the inflation rate will be _<u>higher</u><u>_</u>and real GDP will be <u>higher.</u>

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Learn more about Expansionary fiscal policy here:brainly.com/question/546292?source=archive

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Vladimir [108]

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Answer:

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