Determine the loan monthly interest rate

Assignment Help Microeconomics
Reference no: EM132162387

Question - E.Z. Money, who owns a chain of nightclubs, needs to borrow $20,000 to remodel the local dive. Imam Shark offers to loan the $20,000 to Money for 24 months. Money must make monthly payments of $1118. Determine the loan's (a) monthly interest rate and (b) effective annual interest rate.

Reference no: EM132162387

Questions Cloud

Articulate why you chose a particular side : Conduct academic research on retailers who choose to open during Thanksgiving Day. Explore both sides of the issue and pick a side.
What is the present worth of the revenue stream : A new product will generate net revenues of $600,000 per year. What is the present worth of the revenue stream if the life is 6 years? 12 years
Write the code to display the content : Write the code to display the content below The program Name is Full_XmasTree. This program MUST use (ONLY) for loops to display the output below
Exploring the website and reading different sections : Explore the Congressional Budget Office website. The website is discussed in the Fiscal Policy module. Spend at least 15 minutes exploring the website.
Determine the loan monthly interest rate : Money must make monthly payments of $1118. Determine the loan's (a) monthly interest rate and (b) effective annual interest rate
Give a brief explanation of the concept : Create a short 1- to 2-minute slide presentation using PowerPoint. Give a brief explanation of the concept listed below, including an example to support.
How much is each payment : Hate Manufacturing is purchasing a large tract of land for a new facility. If the interest rate is 10%, how much is each payment
How much money will be in the account : Bob and Mary Johnson are expecting their first child. How much money will be in the account on the child's 19th birthday to finance a college education
Define and explain biofeedback in your own words : Define and explain biofeedback in your own words - Distinguish between biofeedback and neurofeedback, or EEG biofeedback

Reviews

Write a Review

Microeconomics Questions & Answers

  Explain significance of well-developed compensation plan in

w. edwards deming often referred to as the leading quality guru in the united states and psychologist alfie kohn

  How many baseballs should he sell

Suppose the government imposes a tax of $50,000 per week on baseball production. Now what price should Scahill charge, how many baseballs should he sell.

  How to prevent the short-run economic recession

Assume that keynesian model applies to the economy in the short-run. After the stock market fell sharply in 2008, the aggregate denabd decreased greatly around the world. in order to prevent the short-run economic recession, which monetary policy ..

  Build the time series for the index of openness

Build the time series for the Index of Openness (Export of Goods/GDP) using a spreadsheet and build the time series of Imports of Goods/GDP.

  When consumer income increased from 5000 to 6000 the

when consumer income increased from 5000 to 6000 the quantity demanded for a product falls from 100 units to 70 units.

  How price controls affect managerial decision-making process

Assume that a dress shirt is priced at $120.00 At that price six stores in a district sold 650 shirts in a week. Then all six stores declared a sale: buy one get one free. This advertisement increased the sale to 3050 shirt in the following week. ..

  Calculate the profitability index for the two investments

If funding were available, specify whether you would select both investments. Why or why not? Calculate the profitability index (PI) for the two investments. Which project is preferred?

  Define and compute the marginal cost

Cost functions, a part of the definition of profit, are useful to gauge the performance of the business. Suppose an economist estimated that the cost function.

  Explain the steps for the given assumptions

Suppose you are CEO of a manufacturing company, and oil prices suddenly double, which boosts the inflation rate by 5%.

  How much does aggregate demand shift to right if government

suppose the mpc is 0.9. there are no crowding out or investment accelerator effects. if the government increases its

  What is the pw for continuing

An R&D project for a new product has already required the expenditure of $200K. Spending another $100K for a license on another firm's patent will complete.

  Explain market equilibrating process in relation to

write a paper in which you relate the concepts in this weeks readings to a prior real world experience. the experience

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd