This is an example of "Equilibrium in business"
<u>Explanation:</u>
Equilibrium is the state of balance between market supply and demand, and as a consequence, prices are stable. Over-supply of goods or services generally causes prices to fall, leading to higher demand. The offers and demand balance effect results in a stable state. Here as Denny have good retail distribution network which allow him to supply across city and maintain lower price due to good availability of ice creams. For Denny reaching to the customers was easy via vans, thus his ice-creams had lower price.
Answer:
Please find the complete question in the attached file.
Explanation:
Use PMT for the interest amount computation

At first, the bulk of an initial premium is paid at the rate of interest, and that only the remainder of the small part is used for amortization. The very first three years schedule is shown below:


By the 49th payment, upwards of half of the initial amount borrowed would be the total principal paid. Using the formula CUMPRINC in excel, the entire principal payment is calculated twice.
Total Interest Expense