Answer:
The introductory APR is the interest rate that the loan or credit card starts out at..(usually a promotional tool)and the standard rate is what the rate normally is.. the set rate
Explanation:
Answer:
Total future value= $16,402.09
Explanation:
Giving the following information:
Robert White will receive from his investment cash flows of $4,450, $4,775, and $5,125. He can earn 7 percent on any investment that he makes.
To calculate the future value, we need to use the following formula for each cash flow:
FV= PV*(1+i)^n
Year 1= 4,450*1.07^3= 5,451.44
Year 2= 4,775*1.07^2= 5,466.90
Year 3= 5,125*1.07= 5,483.75
Total future value= $16,402.09
Answer: $3,026.55
Explanation:
If US$1 is to £0.7269 then that means that the pound is stronger than the dollar because a dollar buys less than a pound in which case £2,200 will be more than $2,200.
It will be;
= 2,200/0.7269
= $3,026.55
<em>Options seem to be for a variant of this question. </em>
Answer:
1. Neither ; 2. Consumer Surplus ; 3. Producer Surplus
Explanation:
Consumer Surplus is the difference between a good's price paid by consumer, & maximum price the consumer is willing to pay for the good.
Producer Surplus is the difference between a good's price received by a seller, & minimum price at which the seller is willing to sell the good.
1. Willing to pay $209 for watch, buyer willing to sell at $196, no trade as price ceiling at $190 : It illustrates neither concept as transaction has not actually occurred, so no price established.
2. Willing to pay $39 for sweater, purchased it for $32 : It illustrates 'Consumer Surplus' case = $7 , as it shows difference between maximum willingness to pay by buyer ($39) & the actual buy price ($32)
3. Willing to sell laptop at $190, sold it at $199 : It illustrates 'Producer Surplus' case = $9 , as it shows difference between minimum willingness to sell price ($190) & actual sale price ($199)
