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A person applied a mortgage of $250,000. A mortgage company claimed the interest rate for the 15-year loan is 5.5%.
(a) What would be the monthly payment?
(b) If the person accepted the terms of the loan on Oct. 1, 2008 (the first payment was due November 1, 2008), what is the balance of the loan at the end of 2010?
(c) How much was the total interest payment in 2010 that can be used for tax deduction?
(d) After the beginning of 2011, this person decided to pay $500 more each month, when will the loan be paid off?
You have given the following data about the amount your firm can manufacture per day given the number of workers it hires.
Suppose Springfield's economy moves into a recession and Y falls to $9 and rising unemployment allows widget makers to reduce wages to $18 per hour. What happens to the supply and demand curves.
The two sample sizes were 12 for children under 12 and 15 for children 13 to 17 years of age. Further, the standard deviation for children under 12 was 51.7, while the standard deviation for children 13 to 17 of age was 67.6.
A steam boiler is required as part of the design of a new plant. The types of fuel that can be used to ignite the boiler are natural gas, fuel oil, and coal. The cost of installation including all required controls is $40,000 for natural gas.
Assume that product A requireds .5 hour per unit and B requires .25 hour per unit. If both products must go through the same manufacturing machine and there are only 30000 machine hours available per period, which product should be pushed
Autie Frannie wants to help pay for her twin nephews to attend a private school. She intends to send a cheque for $2,000 at the end of each of the next eight years to apply to the cost of schooling. a) If general price inflation, as well as tuiti..
Consider a monopolistically competitive -market with N firms. Each firm's business opportunities are described by the following equations: Demand: = - Marginal Revenue: = - 2 Total Cost: = 50 + Marginal Cost: = 2
Consider the following data on U.S. GDP: CHAPTER 15 MEASURING A NATION'S INCOME 327 Nominal GDP Year (in billions of dollars) 2009 14,256 1999 9,353 GDP Deflator (base year 2005) 109.8 86.8 a. What was the growth rate of nominal GDP between 1999 an..
the cost of equipment replacement is 150000 every 6 years, beginning 6 years from now. How much money is required in the trust fund now to build the engineering laboratory and maintain its perpetual operation and equipment replacement? The interes..
Suppose in a random sample of 353 grad student teachers, the correlation between annual salary increases and teaching evaluations is found to be 0.11. Test at the 5% significance level , the null hypothesis that the quantities are uncorrelated.
suppose you purchase a corporate bond with a 0-year maturity, a $1000 par value, a 10% coupon rate, and semiannual interest payments. This means that you receive a $50 interest payment at the end of each six-month period for 10 years (20 times).
An economy has the per-worker production function: yt=3kt0.5, where yt is output per worker and kt is the capital-labor ratio. The depreciation rate is 0.1, and the population growth rate is 0.05. Savings is: St=0.3Yt
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