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Economics

Question: 1. You borrow $500 from a family member and agree to pay it back in 6 months. Because you are part of the family, you are only being charged simple interest at the rate of 0.5% per month. How much will you owe after 6 months? How much is the interest?

2. Show that the following relationship is true: (A/P, i%, N) = i/[1 - (P/F, i%, N)].

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92314340

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