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prisoha [69]
3 years ago
11

Explain what the long- and short-term consequences are of not promoting equality or working to reduce poverty.

Business
1 answer:
VARVARA [1.3K]3 years ago
3 0

Answer:

The long and short-term consequences of not promoting equality or working to reduce poverty are:

1. the poverty gap widens, causing many more of the population to become poor while a few become richer.

2. extreme poverty becomes the norm, thereby hampering societal progress.

3. discrimination and social classes become oppressive.

Explanation:

Economic equality describes a situation that ensures that every individual in a society has an equal economic opportunity to make the most of their lives and talents by having some access to resources.  Equality reduces discrimination among certain groups of the population, especially those with protected characteristics such as race, disability, sex, and sexual orientation.  It ensures the fair distribution of natural resources among the population, according to their individual needs and capacity.  It does not mean sameness in social or economic status.

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A house is for sale for $250,000. You have a choice of two 20-year mortgage loans with monthly payments: (1) if you make a down
Alex73 [517]

Answer:

The effective annual rate of interest on the additional $25,000 borrowed on the first loan is 12.95%

Explanation:

the loan amount is $250,000 and the period is 20 years.

1.

down payment of $50,000 and the interest rate is 6% per annum

the loan amount = $250,000 - $50,000

                            = $200,000

period = 20*12

           = 240 months

rate = 5%/12

       = 0.4167% per month

monthly payment = $1,319.91

difference between the payments in 1 and in 2 = 1611.97 - 1319.91

                                                                               = $292.06

additional down payment is $25,000

2.

down payment of $25,000 and the interest rate is 6% per annum

the loan amount = $250,000 - $25,000

                            = $225,000

period = 20*12

           = 240 months

rate = 6%/12

       = 0.5% per month

monthly payment = $1,611.97

difference between the payments in 1 and in 2 = 1611.97 - 1319.91

                                                                               = $292.06

additional down payment is $25,000

the effective annual rate = [(292.06/25000)*12]*100

                                         = 12.95%

Therefore, The effective annual rate of interest on the additional $25,000 borrowed on the first loan is 12.95%

8 0
3 years ago
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