We are asked to find the APR on this load.
Given:
Purchased price: $2,900,000
Monthly payment: 14,900
Amount borrowed: 0.80($2,900,000) = $2,320,000
Using the PVA equation:
PVA = $2,320,000 = $14,900 [{1-1/(1+r)]^360}/r]
r = 0.560%
APR is the monthly interest rate times the number in months of the year.
APR = 12(.560) = 6.72%
The new equilibrium price is higher and the new equilibrium quantity is higher
Federal reserve notes are the marks on money like the serial number, U.S emblems, and the signatures. They show that the money is an American Dollar.
In my opinion, we all have our own values and true colors so we can't judge and predict by only looking cover so we need time to make sure what kind of other stuffs need to fill up after her or his probation period. After that we should decide which is the best way and shouldn't terminate by just only watching cover of a new one during his or her probation period.
Answer: a) increase in the demand for Kindles.
Explanation: the substitution effect for substitute goods gives that, if the price of good A rises, the demand for good B rises. Since a substitute good is a good that can be used in place of another, they are goods that a consumer perceives as similar or are comparable, in such a way that having more of one good causes the consumer to desire less of the other good. From the viewpoint of price, and given that consumers always prefer to spend less in instances where two goods are substitutes, it then means that Kindle can be used and preferred in place of Nooks given that the price of Nooks had gone up. Therefore, increasing the price of Nooks causes a corresponding increase in the demand for Kindles.
