Answer:
Correct option is (C)
Explanation:
Given:
Mortgage amount (PV) = $650,000
APR = 10%
Per month interest rate (rate) = 10% ÷ 12 = 0.8333% or 0.008333
Mortgage period (nper) = 30 years or 30×12 = 360 months
Monthly payment can be calculated using spreadsheet function =pmt(rate,nper,PV)
Monthly payment is computed as $5,704.02
PMT is negative as it is a cash outflow.
Risk aversion is an investment strategy that avoids risky investments such as volatile stocks and invests in Government Bonds, CD's, Treasury Bills etc. The reward is lower but so is also the risk.
The Agricultural Adjustment Act (AAA) was to be financed by a tax on food processes. The AAA was based on giving farmers subsidies if they limit their production of crops. This was going to limit the production so that they could raise the prices of the crops being produced. The AAA was hoping to create a huge demand and "scare" that these items were scarce in quantity.
The simple interest given the principal, time and interest rate is $1012.50.
The maturity value is $21,012.50.
<h3>What is the simple interest?</h3>
An amount earns simple interest only if the principal increases in value when interest is paid and not both the principal and the interest already accrued.
Simple interest = principal x time x interest rate
$20,000 x 9/12 x 0.0675 = $1012.50
Maturity value = $1012.50 + $20,000 = $21,012.50
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