Suppose that you borrowed 25000 from a bank at a monthly, Ask an Expert

Economics

Suppose that you borrowed $25,000 from a bank at a monthly interest rate of 2% compounded monthly to purchase a car. This loan is to be repaid in 24 equal monthly installments over two years. How much is the monthly installment? What would be the monthly installment if the bank’s monthly interest rate were 1%?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91953730

Have any Question?Write your Review or question?

Related Questions in Business Economics

Would it ever be rational for a firm to retain an employee

Would it ever be rational for a firm to retain an employee whose current marginal revenue product is less than her current wage? Explain.

When comparing monopolization to monopolistic competition

When comparing monopolization to monopolistic competition in the wireless telecommunications world, what are some good differences to touch on in a short paper?

The standard deviation of the number of video game as

The standard deviation of the number of video game A's outcomes is 0.5479, while the standard deviation of the number of video game B's outcomes is 0.2498. Which game would you be likely to choose if you wanted players t ...

Candidate as pollster conducted a survey in which 450 out

Candidate A's pollster conducted a survey in which 450 out of 710 respondents indicated they would probably vote for Candidate A. Compute the confidence interval for the population.

What is the effect of changes in gasoline prices on the

What is the effect of changes in gasoline prices on the demand for restaurant meals? Is gasoline an economic complement of restaurant meal Are restaurant meals an economic complement of gasoline

An insurance company will pay dave 220000 the market value

An insurance company will pay Dave $220,000 (the market value of the house) should his house be destroyed by fire during the year. In return, Dave pays the insurance company $1280 that year (called the "premium") for tha ...

Sixty percent of households say they would feel secure if

Sixty percent of households say they would feel secure if they had? $50,000 in savings. You randomly select 8households and ask them if they would feel secure if they had? $50,000 in savings. Find the probability that th ...

Istrade zero sum explainthe ways in which itisandthe ways

Is trade zero sum? Explain the ways in which it is and the ways in which it is not as well as an overall assessment explaining why or why not?

Suppose that the demand curve for a businesses is given by

Suppose that the demand curve for a businesses is given by P= 10000-4Q^3 and supply is P= 2000 + 4Q^3 a. Find the equilibrium price and quantity b. Calculate consumer surplus at the equilibrium price c. Calculate produce ...

Suppose demand and supply are given byqdxnbsp 14 - 05

Suppose demand and supply are given by: Q d x = 14 - 0.5 P x and Q s x = .25 P x - 1 a) Determine the equilibrium price and quantitiy. b) Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium ...

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 Business Economics Expert