Answer:
an expensive mink coat
Explanation:
High psychological or perceived risk refers to the uncertainty that a consumer may have when he/she is purchasing a good or a product. Usually expensive goods carry a high perceived risk, e.g. house, boat, jewelry, car, etc.
In this case, an expensive mink coat carries high perceived risk because it is an expensive product and a customer considers the pros and cons of purchasing it.
Answer:
dealer A:
total interest charged = ($118.28 x 18 months) - $2,000 = $129.04
APR = [($129.04 / $2,000) / 1.5 periods] x 100% = 4.3%
dealer B:
total interest charged = ($70.31 x 36 months) - $2,000 = $531.16
APR = [($531.16 / $2,000) / 3 periods] x 100% = 8.85%
The APR charged by dealer A is much lower than the APR charged by dealer B. Even thought the monthly payments are much lower for dealer B, the total amount of interest charged is much higher.
The only difference is the NCUA insures credit union deposits whereas the FDIC insures bank deposits. Other than that, the two work similarly. If a credit union should happen to fail, the NCUA will pay insured deposits to the member owning the account. The same goes for a bank.
Answer: 91.67
Explanation:
Consumer Price Index₂₀₀₂ = ( Basket Price in Year of interest₂₀₀₂ / Basket Price in Base year₂₀₀₉) * 100
Basket Price in 2002 = (10 * 0.6) + (5 * 1)
= $11
Basket Price in 2009 = (5 * 1) + (10 * 0.7)
= $12
Consumer Price index = 11/12 * 100
= 91.67
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