Answer:
Reducing principal at a faster pace increases the overall interest paid on a loan.
Explanation:
When a loan is being repaid a repayment schedule is used. Repayment schedule contains proportion of principal and interest to be paid by the borrower.
In a scenario where principal to be paid reduces at a faster rate, the interest must also reduce. Interest is a function of the principal. The higher the remaining principal the higher interest rate and vice versa.
So the statement - Reducing principal at a faster pace increases the overall interest paid on a loan, is false. Rather interest to be paid will reduce.
James backed into a vehicle in the grocery store parking lot and caused $2000 in damages to his own car and $3000 in damages to the other vehicle.
Indian currency value . and law and order RBI role
Answer:
The correct answer is the letter a. "Make more than 20 wedding cakes a month."
Explanation:
To maximize profit the marginal price of each cake must equal the marginal cost of each cake. The marginal cost is 300 and the marginal price is 5000/20 = 250. The marginal price of each cake (250) is less than the marginal cost of each cake (300), so Laura needs to make more than 20 cakes to increase her revenue and maximize her profit.
