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Answer:
Tariffs increase the prices of imports, helping domestic producers, while voluntary restraints do not.
Explanation:
A tarrif is defined as a tax that is imposed by government on goods and services that are imported from another country. Tarrifs are used to discourage imports by increasing their prices compared to locally produced goods and services.
Voluntary restraint agreements is is also called voluntary export restraint. It is a restriction on the amount of goods and services that exporters are allowed to export to other countries. It is also referred to as export visa.
Tarrifs results in increase in price of goods and services while voluntary restraint agreement does not.
Answer:
28 month (approx)
Explanation:
Given
Present value = $470
Monthly Payment = $20
Interest Rate = 15% annual = 15% / 12 = 1.25% monthly
=0.0125
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![Present Value = PMT [\frac{1-(1+i)^{-n}}{i}] \\470 = 20 [\frac{1-(1+0.0125)^{-n}}{0.0125}]\\470/20 = [\frac{1-(1+0.0125)^{-n}}{0.0125}]\\23.5 \times 0.0125 =1-(1+0.0125)^{-n}\\1-0.29375= (1+0.0125)^{-n}\\0.70625 = (1+0.0125)^{-n}\\0.70625 =(1.0125)^{-n}\\0.70625= \frac{1}{(1.0125)^{n}}\\(1.0125)^{n}=1.4159292\\n=28(approx)](https://tex.z-dn.net/?f=Present%20Value%20%3D%20PMT%20%5B%5Cfrac%7B1-%281%2Bi%29%5E%7B-n%7D%7D%7Bi%7D%5D%20%5C%5C470%20%3D%2020%20%5B%5Cfrac%7B1-%281%2B0.0125%29%5E%7B-n%7D%7D%7B0.0125%7D%5D%5C%5C470%2F20%20%3D%20%5B%5Cfrac%7B1-%281%2B0.0125%29%5E%7B-n%7D%7D%7B0.0125%7D%5D%5C%5C23.5%20%5Ctimes%200.0125%20%3D1-%281%2B0.0125%29%5E%7B-n%7D%5C%5C1-0.29375%3D%20%281%2B0.0125%29%5E%7B-n%7D%5C%5C0.70625%20%3D%20%281%2B0.0125%29%5E%7B-n%7D%5C%5C0.70625%20%3D%281.0125%29%5E%7B-n%7D%5C%5C0.70625%3D%20%5Cfrac%7B1%7D%7B%281.0125%29%5E%7Bn%7D%7D%5C%5C%281.0125%29%5E%7Bn%7D%3D1.4159292%5C%5Cn%3D28%28approx%29)
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