Suppose the price level and value of the U.S. Dollar in year 1 are 1 and $1, respectively. Instructions: Round your answers to 2
1 answer:
You might be interested in
Answer:
Company quotes an interest rate 17 percent on one-year loans.
Explanation:
Borrow value=$34000
interest rate of company in one year=17 percent
Total interest in a year =$34000×
total interest=$5780
Total payment in one year=$34000+$5780
Total payment=$39780
You will pay $39780/12 or $3315.00/month according to company statement.