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Question: A new office building was constructed 5 years ago by a consulting engineering firm. At that time the firm obtained a bank loan for $600,000 with a 12% annual interest rate, compounded quarterly. The terms of the loan call for equal quarterly payments to repay the loan in 10 years. The loan also allows for its prepayment at any time without penalty. As a result of internal changes in the firm, it is now proposed to refinance the loan through an insurance company. The new loan would be for a 20-year term with an interest rate of 8% per year, compounded quarterly. The new equal quarterly payments would repay the loan in the 20-year period. The insurance company requires the payment of a 5% loan initiation charge (often described as a "5-point loan fee"), which will be added to the new loan.
(a) What is the balance due on the original mortgage if 20 payments have been made in the last five years?
(b) What is the difference between the equal quarterly payments on the present bank loan and the proposed insurance company loan?
Explain why you have answered with the policy that you have, and explain why you have chosen that policy over the other two. (a) Which of these policies is most likely to reduce pollution?
The following is the production possibilities for a firm. At 0 labor units (strangely enough), there are 0 units produced. At 1 labor unit, there are 10,000 units produced, at 2 labor units, there are 25,000 units produced, at 3 there are 45,000, ..
A firm with a CD production function Q = 1.5K 0.5 L0.4 plans to produce 900 units of output per day. Assume the prices of labor and capital are $50 and $100 a day-What is the firm's least cost combination of factors for production of 900 units of o..
Why is rejection of the null hypothesis using a t test a more specific statement than rejection of the null hypothesis using the appropriate distribution-free test?
Can central banks pursue and achieve multiple goals or must they be confined solely tofighting inflation? What goals are embedded in the Taylor rule?
Calculate the monopolist's profit.
An airline offering flight services from Singapore to Bangkok, Thailand, has two classes of seats, business class and economy class. Calculate the price elasticity of demand for both classes using the mid-point formula
Ryan Cozzens withdraws $400 from his checking account at the local bank and keeps it in his wallet.
a manufacturing company leases a machine for 31812 per year. each unit produced costs 36 in labor and 72 in materials.
The company selling the good x starts an advertisement campagin that has the following effect on the consumer he makes decisions as if maximizing a decision utility function.
Explain the five economic functions of contract law - explain the difference between moral hazard and adverse selection.
How does globalization reduce the costs of production - Is it likely that all U.S. jobs one day will have moved abroad? Why or Why not?
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