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You buy a $20,000 piece of equipment for nothing down and $4000 per year for 6 years. What interest rate are you paying? The formula relating present worth P, annual payments A, number of years n, and interest rate i is
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- 4000 N 2000 N 2 m 2 m F 60° 2 m 2 m 30° 45°arrow_forwardShow the solutionarrow_forwardFour consumers are willing to pay these amounts for haircuts, and four haircutting businesses have these costs: Consumers' Willingness to Pay Firms' Costs Edison: $45 Firm A: $40 Kevin: $25 Firm B: $20 Maria: $15 Hilary: $35 Firm C: $10 Firm D: $30 Each firm has the capacity to produce only one haircut. For efficiency, should be given. Which businesses should cut hair? Check all that apply. Firm A Firm B Firm C Firm D Which consumers should have their hair cut? Check all that apply. Edison Hilary Kevin Maria The maximum possible total surplus is $arrow_forward
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