Answer:
The correct answer is option D.
Explanation:
A quota is a non-tariff restriction on trade. It is either a quantitative limit or a limit on the monetary value of products that can be traded. It a restriction imposed by the government to protect domestic producers from foreign competition.
In all the given examples the last one represents a quota. It is a limit on the number of products that can be imported.
Answer:
I prepared an amortization schedule using an excel spreadsheet. The original monthly payment was $836.44. After the 120th payment, the remaining principal balance was $68,940.64. Since she didn't pay anything for 1 year, the new principal balance will be $68,940.64 x (1 + 8%) = $74,455.89
I prepared another amortization schedule for the remaining 9 years, and the monthly payment is $969.32. She will pay off the loan in 108 months.
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