Suppose that under the Plan of Repayment one should pay off the debt in a number of equal end-of-month installments (principal and interest). This is the customary way to pay off loans on automobiles, house mortgages, etc. A friend of yours has financed $24,000 on the purchase of a new automobile, and the annual interest rate is 12% (1% per month). a. Monthly payments over a 60-month loan period will be how much? b. How much interest and principal will be paid within three month of this loan? Click the icon to view the interest and annuity table for discrete compounding when /=1% per month. a. The monthly payment over a 60-month loan period is $ (Round to the nearest cent.)

Suppose that under the Plan of Repayment one should pay off the debt in a number of equal end-of-month installments (principal and interest). This is the customary way to pay off loans on automobiles, house mortgages, etc. A friend of yours has financed $24,000 on the purchase of a new automobile, and the annual interest rate is 12% (1% per month). a. Monthly payments over a 60-month loan period will be how much? b. How much interest and principal will be paid within three month of this loan? Click the icon to view the interest and annuity table for discrete compounding when /=1% per month. a. The monthly payment over a 60-month loan period is $ (Round to the nearest cent.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that after an excise tax was imposed on sofas, the price buyers paid for sofas increased by $5. Suppose further that the price elasticity of demand for sofas is 1.8 and the price elasticity of supply for them is 1.6. It can be concluded with certainty that the amount of the excise tax was Select one: OA less than $5. B. $5. OC. greater than $5 but less than $10. OD. $10. OE. greater than $10.
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Q17
Identify the effect of increase in tax rates on either demand or supply curve and the equilibruim interst rates.
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Can you answer 23,24,25
C= 250+ 0.8Y I= 150 G=300 TR= 100 NX=100 t= 0.25 Q) Find the equilibrium level of income Q) suppose, Beacuse of the current COVID 19 situation C falls to 50, MPS falls to. 05, I falls to 10 G falls to 100 and NX falls to 10.how much TR should the government increase to have the samd Level of equilibrium income as in part i)?
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The percentage of an increase in income that is taxed is: O a regressive tax. O the marginal tax rate. O the average tax rate. O a flat tax.
The top 1% of income earners in the U.S. (those with the highest taxable incomes) pay O about the same percentage of their incomes in taxes as the average U.S. taxpayer. a much lower percentage of their incomes in taxes than the average U.S. taxpayer. O a much higher percentage of their incomes in taxes than the average U.S. taxpayer. O about 15 percent of their incomes in income taxes O a and d
TRUE - OR - FALSE The distinctive characteristic of a progressive tax is that the dollars paid in taxes rise as income rises. O True O False