Andrew has taken out a loan for 7000 with the following, Ask an Expert

Economics

Andrew has taken out a loan for $7,000 with the following terms: interest is only charged on annual payments during the first 4 years, and a payment of the rest of the money owed at the end of the 5th year. The bank is only charging 4.17%. What is the amount of the second annual payment?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91236883

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question a consulting firm estimates the demand by local

Question: A consulting firm estimates the demand by local businesses for attendance at a pro sports team's games: PB = $140 - 4AB where PB is the ticket price paid by businesses, measured in dollars, and AB is their atte ...

Question for each of the following absolute values of price

Question: For each of the following absolute values of price elasticity of demand, indicate whether demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic. In addition, determine what would ...

Question identify and explain some of the challenges that

Question: Identify and explain some of the challenges that modernization theory faces When applied to Third World societies. What alternative theories have been promoted to explain the reasons for Third World poverty. Pl ...

Question an economist claims productivity is the key to

Question: An economist claims: "Productivity is the key to increasing material living standards. Defend this statement using the Solow Growth Model. Explain fully and illustrate with the appropriate graphs. The response ...

Question there are three consumers a b and c consumer a is

Question: There are three consumers A, B and C. Consumer A is willing to pay 8-3F dollars for a unit of flowers for the public square, B is willing to pay 2-3F dollars for a unit of flowers, and C is willing to pay 9-3F ...

Question use an isoquantisocost diagram and words to show

Question: Use an isoquant/isocost diagram and words to show how firms will respond to a decrease in the wage rate. (Assume substitution between labor and capital is possible.) Be sure to identify the short run scale effe ...

Question during 1983 1984 and 1985 the dollar was

Question: During 1983, 1984, and 1985, the dollar was overvalued and kept rising. During that period, real imports rose $160 billion and real exports rose only $27 billion, while real GDP rose an average of 5.1% per year ...

Question consider the case of global environmental problems

Question: Consider the case of global environmental problems that spill across international borders as a prisoner's dilemma of the sort studied in Monopolistic Competition and Oligopoly. Say that there are two countries ...

Question you are the human resources manager for a famous

Question: You are the human resources manager for a famous retailer and are trying to convince the president of the company to change the structure of employee compensation. Currently, the company's retail sales staff is ...

Question identify 4 governance risks and explain what risk

Question: Identify 4 governance risks and explain what risk management strategies you would use to manage it and who would be responsible for thatIdentify 4 governance risks and explain what risk management strategies yo ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert