A bank makes an auto loan for $10,000 at an annual rate of 6 percent. Assuming no repayment is made at all during the period, after two years the borrower will owe:
A. $10,000
B. $10,600
C. $11,236
D. $11,910
C. $11,236
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The amount that a hospital will be paid for treating a Medicare patient is determined
a. before the patient ever sees a physician. b. at the time of admission to the hospital. c. at the point when the diagnosis is made. d. after medical services are provided. e. after the hospital bill is reviewed by Medicare auditors.
In macroeconomics, the long run refers to:
A. how long it takes for prices of inputs to fully adjust to changes in economic conditions. B. the time period when sticky wages are in place. C. how long it takes for output decisions to adjust to changes in economic conditions. D. how long it takes for fixed inputs to become variable.
The use of large amounts of labor relative to capital in an economy indicates: a. labor-intensive production
b. capital-intensive production. c. that wage rates will be relatively high. d. that hand-made goods are of better quality than machine-made goods.
Suppose you observe an increase in the equilibrium price of coffee and a decrease in the equilibrium quantity of coffee. Of the options listed below, this is most consistent with:
A. a decrease in consumer income assuming coffee is a normal good. B. an increase in consumer income assuming coffee is a normal good. C. a decrease in the cost of producing coffee. D. an increase in the cost of producing coffee.