8/9 / 2/10
Put in decimal form
.89 / .2 = 4.444 = 40/9
Part 1:
After payment of $300, remaining balance = $2,348.62 - $300 = $2,048.62.
Interest accrued is given by:
Had it been $600 was paid, remaining balance = $2,348.62 - $600 = $1748.62. Interest accrued is given by:
Difference in interest accrued = $14.94 - $12.75 = $2.19
Part 2:
The present value of an annuity is given by:
Where PV is the amount to be repaid, P is the equal monthly payment, r is the annual interest rate and n is the number of years.
Thus,
Therefore, the number of months it will take to pay of the debt is 3.99 months which is approximately 4 months.
Answer:
26
Step-by-step explanation:
because look at the tail
It should be noted that a good that has a high demand elasticity for an economic variable implies that consumer demand for that good is more responsive to changes in the variable.
<h3>How to explain the demand?</h3>
It should be noted that an elastic demand is one werr the change in quantity demanded due to a change in price is large.
Also, an inelastic demand is one in which the change in quantity demanded due to a change in price is small. When the formula creates an absolute value greater than 1, the demand is elastic.
Here, a good that has a high demand elasticity for an economic variable implies that consumer demand for that good is more responsive to changes in the variable.
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