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Misha Larkins [42]
3 years ago
6

If the average propensity to consume is 0.75, and the marginal propensity to consume is 0.70, if income rises by $4,000, consump

tion will increase by _____. (Remember when we use APC versus MPC. Use only one for this question).
Business
1 answer:
LUCKY_DIMON [66]3 years ago
7 0

Answer:

$2,800

Explanation:

The computation of the increase in consumption is shown below:

= Marginal propensity to consume × rise in income

= 0.70 × $4,000

= $2,800

Hence, the consumption would be increased by $2,800

We simply applied the above formula i.e. marginal propensity to consume is multiplied with the rise in income so that the correct answer could come

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Ann Hopkins borrowed $60,000 for her child’s education. She must repay the loan at the end of 8 years in one payment with 512% i
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The Maturity Value that Ann must pay is $89,461.

Assuming the rate of interest is compounded annually.

Given,

Principal value = $60,000 = P

Rate of interest = 5.12% = i

Number of years = 8 = T

Since maturity value = Amount

Now, using the formula for calculating the amount,

Amount = P × {(1+i)^T}

Now, substituting the given values in the above formula for amount we get,

Amount = $60,000 × {(1+0.0512)^8}

             = $60,000 × {(1.0512)^8}

             = $60,000 × 1.49101776418

             = $89,461.0658

             = $89,461 (Approximately)

Hence, The Maturity Value that Ann must pay is $89,461.

Learn more about maturity value:

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2 years ago
On August 31, 2018, the general ledger of The Dean Acting Academy shows a balance for cash of $7,904. Cash receipts yet to be de
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Answer:

Debit Unearned Revenue, Credit Service Revenue for $9,200

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Date      Account Titles                      Debit     Credit

Sept 1    Cash                                     $16,100

                   Unearned service revenue           $16,100

Dec 31    Unearned service revenue $9,200

                     Service Revenue                          $9,200

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