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lawyer [7]
2 years ago
13

Compound Interest:

Business
1 answer:
MA_775_DIABLO [31]2 years ago
7 0

Option answer:

d. Interest = $10.64 and New Balance = $360.64

Answer:

A = $360.64

A = P + I where

P (principal) = $350.00

I (interest) = $10.64

Calculation Steps:

First, convert R as a percent to r as a decimal

r = R/100

r = 1.5/100

r = 0.015 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 350.00(1 + 0.015/4)(4)(2)

A = 350.00(1 + 0.00375)(8)

A = $360.64

Summary:

The total amount accrued, principal plus interest, with compound interest on a principal of $350.00 at a rate of 1.5% per year compounded 4 times per year over 2 years is $360.64.

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A standard "money demand" function used by macroeconomists has the form ln( ) = + ln( ) + m β , 0 β1 GDP β2R Where m is the quan
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1.The money demand will rise by 1.154%

2. The money demanded will fall and for a 1% increase in interest , the money demanded will fall by 0.38%

Explanation:

1. Money demand function

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Suppose the GDP increases by 1%; the new GDP will be = $ 101  

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2.

If the interest rate increases from 3% to 4%

ln(m) = 1.5 ln ($100) - 0.04 X 0.04  

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A researcher measures driving distance from college and weekly cost of gas for a group of commuting college students. What kind
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In the case of price and demand, the change occurs in the opposite direction, so that the increase in one is accompanied by a decrease in the other. This is known as a negative correlation.

8 0
3 years ago
Read 2 more answers
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