Rhonda plans to buy an $85 Father's Day present for her father, and the holiday falls on the third Sunday of June. She can affor
d to put it on layaway with a 20% down payment and $8 a month after that. If payments are due at the beginning of each month, when should Rhonda make her first monthly payment?
An intermediate good is a producer good or semi-finished good that is used as an input in the production process in the manufacturing of other goods such as finished goods. An example of an intermediate good in the options given above will be steel that is purchased by the aircraft manufacturers. Steel is a partly finished good used in producing aircraft, as a final or finished good.