Answer:
Interest expense $ 11.15
Explanation:
As the bank uses the average daily balance excluding new purchases we should use that amount to solve for the interest expense.
The rate is one and a half percent therefore, 1.5% --> 0.015
principal x rate = interest
$743 x 0.015 = $ 11.145
Answer:
B. The lender would benefit.
Explanation:
Based on the information provided within the question it can be said that in this scenario the one who would benefit from a lower inflation rate would be the lender. That is because by there being a lower inflation rate it means that the money that the borrower needs to pay back the loan does not have the buying power he predicted it would have when he borrowed it. Meaning that he would need to pay more money to the lender than originally anticipated.
Answer:
1) The government prohibits gas stations from selling gasoline for more than $3.40 per gallon.
This statement is an example of price ceiling as the gas stations cannot raise their price above $3.40 but can sell it at any price lower than the ceiling price of $3.40. This is binding
2) Due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from doing so. This is neither a price ceiling or floor as government isn't directly affecting the price with their policy
3) The government has instituted a legal minimum price of $3.40 per gallon for gasoline. This is an example of price floor and is binding. The reason it is a price floor is because the petrol stations cannot charge a price below $3.40 but can charge any price above the floor price of $3.40
Explanation:
Answer:
No Halo 3 is.
Explanation:
Halo 3 is much better even if you haven't played it. It is a xbox 360 game and came out on September 25, 2007.
