In the case when the tea and scones are considered to be the perfect complements also you give preference one cup of tea over the one scone
Plus the indifferent curve with tea should be plotted on the vertical axis
So in the case when there is 2 cups of tea with one scone so at this point, the MRS should be at infinity as the indifference curve should be in downward sloping because we presume that there is preferences done at monotonicity
70% of $130 000 = $91 000; number of payments = 12 * 5 years = 60 months
; 4.5% is converted to 4.5/1200 to accommodate the monthly repayments being calculated.
Loan monthly repayment
= principal [ interest (1+ interest)^ number of payments] / [(1+interest)^number of payments - 1]
The period 't' between the year when the coin was issued, 1794, and 1971 is:
If the coin had a value of $5 and after a period of t=177 years it was worth $305,000, the annual tax rate by which the coin appreciated is determined by: