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Some lenders charge an up-front fee on a loan, which is subtracted from what the borrower receives. This is typically described as "points" (where one point equals 1% of the loan amount). The federal government requires that this be accounted for in the APR that discloses the loan's cost.
(a) A 5-year auto loan for $18,000 has monthly payments at a 9% nominal annual rate. If the borrower must pay a loan origination fee of 2 points, what is the true effective cost of the loan? What would the APR be?
(b) If the car is sold after 2 years and the loan is paid off, what is the effective interest rate and the APR?
(c) Graph the effective interest rate as the time to sell the car and pay off the loan varies from 1 to 5 years.
Assume that a country is growing at 5% per year. Now the saving rate decreases leadingto a new lower growth rate of 3.3% per year. How will the change in standard of living over time be impacted by this change in the saving rate and therefore the gro..
Sales personnel, whether selling life insurance automobiles or pharmaceutical typically get paid on commission instead of a straight hourly wage. How does paying a commission help solve the principal agent problem between the owners of a business and..
Describe the Heckscher-Ohlin model (also known as the factor endowment). How does it predict countries will emphasize their comparative advantage?
Suggest at least one (1) scenario in which understanding the Five Stages of Group Development could help you to work more effectively in groups in the future. Provide a rationale for your response. Then, reflect on an experience that you had being a ..
She is now considering raising her prices by 20 percent to offset the increase in her monthly rent.
Illustrate what would happen in the market, please Specify whether the policy would cost the Chinese government anything also if so, and explain how much.
Tracy is a marketing manager at humbert and humbert literary works. She has estimated that the likely demand for a new novel is well represented by equations Qd=10,000- 400(p) +10,000 x D + A/10. Qd is the number of books sold.
What is the concept of data compression? Define a type of data compression and the steps involved.
In the long run, the greater burden of a specific tax will usually be absorbed by. A monopolist with multiple plants should allocate total production among plants so that. A price-discriminating monopolist should divide sales among markets so that
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Government sponsored job training program is no different from any other form of resource transfer since resources have been taken from higher valued uses to a lower valued use.
People have a demand for cars, and a market economy provides sweaters. There is evidence that people also have a demand for national defense, in that they are willing and able to spend some of their money on defense. In your response, briefly explain..
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