Answer:
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The Circle C is Ben's creditor. A creditor refers to someone or group of people who has lent money to someone or who has extend credit to another person or business entity. The money borrowed has to be return in full back to the creditor.
So the correct option is B
= Amount of annual installment × PV of ordinary annuity of $1 at 5% for 10 periods
= (15000/10) × 7.72173
= 1500 × 7.72173
= 11582.595
= 11583
Therefore, the amount will be $11583
What is Installment?
The act of adding something new or an installment is one portion of something that has numerous parts, such a payment or a story, are the definitions of an installment. Installing a new kitchen is an example of an installment. A monthly payment schedule is an illustration of an installment.
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The amount supplied will be greater than the amount demanded is non-price factors, such as discrimination or waiting in line, will play a greater role in the allocation of the good.
Demand is influenced by a number of economic factors besides price. Numerous more non-price factors, usually referred to as underlying determinants, can influence demand.
A force outside of supply that influences consumer demand for a product is known as a non-price determinant of demand. Ice cream, for instance, is less popular in the winter than in the summer because people don't want to be chilly. As a result, a change in the weather is a non-price determinant that influences ice cream prices. Demand is also affected by factors other than price, such as the cost of complementary and replacement products, income, expectations, and preferences and tastes.
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