Answer: $338712.36
Explanation:
Given the following :
APR = 6.35% = 0.0635
Monthly payment = $1800
Cost of home = $340,000
Period (t) = 420
Monthly rate = 0.0635 / 12
Amount paid on loan = PV of monthly payment :
PMT(1 - (1 / (1 + r)^t)) / r
1800[(1 - (1 / (1 + 0.0635/12)^420)) / r]
1800[ (1 - (1 /9.1764488)) / r
1800[ 1 - 0.1089746] / (0.0635 / 12)
1800 [168.38275]
= $303088.95
Hence, amount yet to pay :
$340,000 - $303088.95 = $36911.05
Hence, balloon payment :
36911.05( 1 + r)^t
36911.05(1 + 0.0635/12)^420
36911.05(1 + 0.0052916)^420
36911.05(1.0052916)^420
36911.05 × 9.1764488
= $338712.36
Answer:
Fabiola pays 27.0963 dollars for 8.79877 gallons of fuel.
Step-by-step explanation:
We are given that,
Fabiola pays 357 pesos for 40 liters of fuel.
It is required to convert the amount in dollars.
Since, we know that,
1 peso = 0.0759 dollars
So, 357 pesos = 0.0759 × 357 = 27.0963 dollars
Moreover,
1 liter = 0.219969 gallons
So, 40 liters = 0.219969 × 40 = 8.79877 gallons
Thus, we get that,
Fabiola pays 27.0963 dollars for 8.79877 gallons of fuel.
People who make goods and services are called PRODUCERS.
They are called producers because they produce the goods and services needed by the consumers.
Consumers are people who requires the goods and services provided by the producers.
Answer:
Price Floor led Excess Supply can be solved by : Preserving goods Buffer Stock ; or processing goods to increase their shelf life (in case of perishable goods like Milk)
Explanation:
Unregulated markets are at equilibrium where : market demand , market supply are equal ; and downward sloping demand curve , upward sloping supply curve intersect.
Price Floor is minimum mandated price set by government, below which a good can't be sold in the market. It is usually set above equilibrium price, to protect interest of sellers. Example : Minimum Support Price as minimum agricultural goods price to protect interest of farmers, Given Milk Price floor case.
Price Floor creates artificially higher prices ; so increases supply, decreases supply & hence creates Excess Supply. Government can solve this excess supply by preserving stock supply for contingent times , eg - maintaining buffer stock. If the good is of perishable nature, as given milk case : it should be processed further to increase its shelf life, eg - cheese, such that the stock supply can be released at a slower pace.
