You have just purchased a home by borrowing $400,000 for 30-years at a fixed apr of 3.87%. the loan payments are monthly and interest is compounded monthly.
a. what is the periodic interest rate? (i. e., what is the monthly interest rate? )
b. what is the effective annual rate on the loan? (i. e., what is the interest rate once we take into account compounding? )
c. what is the monthly mortgage payment?
(hint: a mortgage is just an annuity where the borrowed amount is the present value of the annuity. so, use the annuity formula, but solved for the cash flow in terms of the present value:
cf =pv×r/k 1−(1+r/k)−t×k)

As a group is leaving, you ask them if they had a good experience at the restaurant. they mention that they had poor service and their food was cold. a.apologize and ask them to give the restaurant another chance in the future. you tell them that guests usually have a great experience here. b.apologize then ask for the server’s name and immediately notify the manager after they leave. c.apologize for the bad experience and ask them to wait as you call the manager to talk to them. d.apologize for the bad experience and encourage them to complete the customer service survey. this feedback will ensure other guests do not have the same experience.

How will firms solve the problem of an economic surplus a. decrease prices to the market equilibrium price b. decrease prices so they are below the market equilibrium price c.increase prices

University car wash built a deluxe car wash across the street from campus. the new machines cost $219,000 including installation. the company estimates that the equipment will have a residual value of $19,500. university car wash also estimates it will use the machine for six years or about 12,500 total hours. actual use per year was as follows: year hours used 1 3,100 2 1,100 3 1,200 4 2,800 5 2,600 6 1,200 prepare a depreciation schedule for six years using the following methods: 1. straight-line. 2. double-declining-balance. 3. activity-based.