Answer: Stan will buy 3 units of Candy bars and 5 units of Soda.
Explanation:
The optimal consumption bundle s given by the point where the indifference curve is tangent to the budget line. At this point, the slope of the indifference curve is equal to the slope of the budget line.
That is
This marginal utility per dollar is equal for consumption bundles,
1 unit of candy bar, 4 units of soda = Total expenditure = $6 < Income. Thus not optimal
3 unit of candy bar, 5 units of soda = Total expenditure = $11 = Income. Thus optimal bundle
5 unit of candy bar, 6 units of soda = Total expenditure = $16 > Income. Thus not optimal
7 unit of candy bar, 7 units of soda = Total expenditure = $21 > Income. Thus not optimal
Therefore, 3 units of candy bars and 5 units of soda is the only optimal bundle which utilizes all the income to maximize consumption.
Answer:
for the first loan the origonal loan of $180,000 goes up to $453,166
and the second one is $462,446
Answer:
a) we must first determine the effective interest rate
effective monthly interest rate = APR / 12 = 7.4% / 12 = 0.617%
monthly payment = present value x annuity factor
present value = $92,500
PV annuity factor, 0.617%, 60 periods = 50.024
monthly payment = $92,500 / 50.024 = $1,849.12
b) effective annual rate = (1 + 7.4%/12)¹² - 1 = 0.076562 = 7.66%
Answer:
Economic duress
Explanation:
We say there is an economic duress during a contract when one party to the contract threatens to terminate the contract if the other person does not agree to their demands. Brent is asking for more money, if he does not get this, he says he would leave the work unfinished.
When this happens, the other party may be left stuck and may have no option than to agree to the new demands of the contract.
A. Natasha has been billed correctly for her purchase of standard shipping.
To determine if Natasha has been billed correctly for her purchase, you need to review the details of the purchase.
First, you need to confirm the cost of the items purchased. This can be done by looking at the itemized list of purchases on the receipt.
Next, you need to confirm the cost of shipping. If Natasha selected standard shipping, then the cost will be listed on the receipt.
Finally, you need to compare the cost of the items purchased and the cost of shipping to the total amount billed to Natasha's credit card. If the total cost of items and shipping matches the total amount billed to Natasha's credit card, then Natasha has been billed correctly.
In this case, since the total cost of items and shipping matches the total amount billed to Natasha's credit card ($91.08), Natasha has been billed correctly. Therefore, the answer is A. Natasha has been billed correctly.
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