A car costing $ 48182 is purchased with a 25% down payment and further payments of X at the beginning of every month for 10 years. The annual nominal interest rate is 5.3% convertible semi-annually. Calculate X. O a. $397.47 O b. $374.32 O c. $385.89 O d. $210.49 e. $397.83

A car costing $ 48182 is purchased with a 25% down payment and further payments of X at the beginning of every month for 10 years. The annual nominal interest rate is 5.3% convertible semi-annually. Calculate X. O a. $397.47 O b. $374.32 O c. $385.89 O d. $210.49 e. $397.83

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Consider two economies, A and B. Economy A has a marginal propensity to consume of 0.9, a net tax…

A: The entire amount of products and services consumers are willing to buy in a particular economy and…

Q: The graphs below show the production possibilities frontiers for sugar and corn in South Africa and…

A: (a) The production possibility curve depicts the combination of two goods that a nation can produce…

Q: B. Determine the inflation rate of Country ABC using its CPI from 2020 and 2021. Price Price 2020…

A: Here we are Assuming the base Year is 2020 Formula Used to Calculate cost of Basket basket= Cost of…

Q: Tacoma's population in 2000 was about 194 thousand, and has been growing by about 10% each year. a.…

A: Given population in 2000 = 194 thousands Constant Growth rate = 10 %

Q: Some media scholars might consider Marshall McLuhan a technological determinist because: Select one:…

Q: Suppose a small open economy has the following money demand function: M/P = L (r, Y-T), wherer is…

A: Answer -

Q: A firm finds the following relationship between workers’ productivity and the amount that workers…

Q: 1. A furniture store sold picnic chair for $22.95 during a promotional sale. The store bought the…

A: Cost of coffee maker = $36 less 40% and 15% Now the actual cost = 85% of (60% of 36) = $18.36…

Q: A farmer sells $150,000 of apples to individuals who take them home to eat and $75,000 of apples to…

A: A farmer is selling the apples to two individuals one is final consumer and one is the producer.

Q: What is the maximum amount of money created from a $3 million deposit in the banking system if the…

A: Given information - Deposits = $3 million Required reserve ratio = 0.05 The maximum amount of money…

Q: Consider the aggregate supply-aggregate demand (AD-AS) model that we saw in class. Assume that…

A: The aggregate supply curve shows the positive relationship between the price level and the total…

Q: 16. The demand for good X is estimated to be Q, = 10, 000 – 4Px + 5Py+ 2M + Ax where Px is the price…

A: Cross price elasticity of demand measures the responsiveness of quantity demanded of good 1 with…

Q: 2Question # 14: Economic “Sustainability" and Environmental "Impact" Analysis : A country of 150…

A: The environmental impact is calculated using the formula I = PAT

Q: Consider the following information describing an economy with demar output. There is no government…

A: Aggregate expenditure is the sum of consumption, investment and government spending in a closed…

Q: 1. Mary has a utility function u(x, y) = 2lnx + 4y. In the initial situation: pg = 2, pg = 4, Mº =…

A: As asked to solve parts A, B, and E.

Q: Briefly explain the free rider problem with respect to the funding of local public schools. How does…

A: Answer given below,

Q: Opportunity Insights Economic Tracker Data 9. Which groups have been most harmed by the pandemic?…

A: PLEASE FIND THE ANSWER BELOW.

Q: The Figure above shows statistics on Real GDP in Qatar ($billions) from 2012 to 2020, in addition to…

A: Real GDP is expected to reach 178 $ billion in 2022. the main factors are given in step 2

Q: 3. Consider a monopolist who faces the following demand. Demand: P= 100 – 10Q MC= 50+20 a) Find the…

A: Profit maximization is a process business firms undergo to ensure the best output and price levels…

Q: if there have been any quality problems at disneyland, how are they being addressed?give an

A: Quality of a good or a service refers to the satisfaction and worthiness it provides to the…

Q: 4. The demand for good X has been estimated by Qx= 12 - 3P, + 4Py. Suppose that good X sells at $2…

Q: A firm has two plants that produce identical output. The cost functions are C1=346q−8q2+0.5q3 and…

A: Average cost curve is the U shaped curve which means the at first it decreases and reaches at…

Q: A firm finds the following relationship between workers’ productivity and the amount that workers…

A: The labor market refers to the market in which the labor demand and labor supply are equal to each…

Q: 5. Some argue that practice variations exist because information on practice style is disseminated…

A: A policy is a plan of action with specific goals in mind to influence or manage the economic…

Q: 11. If the cross-price elasticity between goods A and B is negative, we know the goods are:

A: Cross elasticity refers to the responsiveness of change in quantity demanded of one commodity due to…

Q: Widget factory Inc. in Wisconsin has the following production function: F(L,K)=2L L represents the…

A: Given production function: F(L, K) = 2L1/2 K1/2 w = $30 r = $25 P = $50 K0 = 900 (fixed) So, the…

Q: True or False or uncertainty Uncovered interest parity (UIRP) implies that the market expects the…

A: 10. Uncovered interest parity implies that the market expects the currencies of countries with…

Q: FACT: Sonic @ Co. produces sonic boom chocolates, demand for which is: D(p) = 50(p+2) 2), %3! [1]…

A: "Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Wells Chocolate lEmporium is getting ready for the upcoming busy tourist season. The company is…

A: Given, Probabilities for each option, the following alternatives have: Low = 0.40 Medium = 0.35 High…

Q: Frictional unemployment can be explained by a situation where Select one: O Close of a business due…

A: The situation where people are able and also willing to work but are not able to find suitable jobs…

Q: Which of thne following does not lead to an increase in consumption A Higher unemployement (B Higher…

A: Consumption is the act of using resources to satisfy current needs and wants. It is seen in contrast…

Q: A monopolist firm faces a demand with constant elasticity of -2.0. It has a constant marginal cost…

A: Given the elasticity = -2 MC = 20 dollars

Q: Suppose the economy is in a recession, which of the following fiscal policy can the government use…

A: When the economy is in recession, the real GDP or falls.

Q: The demand for pastries slopes downward and the supply of pastries slopes upward. Suppose that the…

A: Elasticity measures how responsive is quantity to changes in price level.

Q: Name 2 reasons why the CPI underestimates the true Inflation Rate?

A: reasons why the CPI underestimates the true Inflation Rate show below .. 1 )Substitution biàs 2)…

Q: Prospect Y = ($6, 0.25 ; $19, 0.75) If Will's utility of wealth function is given by u (x) = x0:25,…

Q: As the manager at a local florist, you supervise two employees, Anita and Jerome. There are two…

A: since you have asked multiple questions and according to policy we can solve only 1 question and for…

Q: Which of the following is a barrier to entry for a monopoly? Question 3 options: severe…

A: In a monopoly, there is a single seller with no free entry and exit of firms. The firm produces…

Q: vith proper maintenance. Both floors 1500 per year for cleaning and waxi he interest rate is 4%. The…

A: *Answer:

Q: In a two-period model, as long as wealth effects are small, an increase in the world real interest…

A: Two period model deals with current as well as future consumption.

Q: You are the chief economic adviser in a small open economy with a floating exchange rate system.…

Q: Which of the following appears to be a safe assumption when there is no difference between the…

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…

Q: if the total cost c=0.2q3 - 4q2 +1000, what is the marginal cost when q=100

A: the monetary value incurred in production process called production cost . There are two types of…

Q: Common Policy Conditions form contains six conditions that apply to all coverage parts in a…

A: Strategy conditions are the provisions in an insurance policy that frequently require the protected…

Q: When the interest rate falls, how does the opportunity cost of holding money and the quantity of…

A: Interest rates are defined as the form of reward given to the investors for investing their money…

Q: The new generator, which has an initial cost of S80,000, has annual operating costs of $15,000 over…

A: The yearly cost of owning, operating, and maintaining an asset over the course of its full life is…

Q: Problem #2 Suppose the Demand schedule of Rice was been revised during February 2021. Graph the…

A: The demand function depicts the connection between the amount of an item sought and the variables…

Q: Q1) Would you expect the short-run marginal propensity to consume to be different between farmers…

A: The marginal propensity to consume (MPC) is a term used in economics to describe how much a boost in…

Q: B. Determine the inflation rate of Country ABC using its CPI from 2020 and 2021. Price 2021 10,000…

A: To calculate CPI, the formula used is : CPI = Price of basket of goods in current yearPrice of…

Q: Suppose now we alter the game so that whenever Colin chooses "paper" the loser pays the winner 3…

A: Game xT=13,13,13 yT=13,13,13

Question

plz solve it within 30-40 mins I'll give you multiple upvote

A car costing $ 48182 is purchased with a 25% down payment and further
payments of X at the beginning of every month for 10 years. The annual nominal
interest rate is 5.3% convertible semi-annually. Calculate X.
a. $397.47
O b. $374.32
O c. $385.89
O d. $210.49
O e. $397.83

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

! Use the given Data ! bartleby = 3 max questionsFor a deposit of P150000 at 8.5% interest compounded continuously over 5 years, find the interestearned. Jonal is left with an inheritance which amounts to P 30000 trusted to her guardian until it reachesto P 60000, how long would she wait for her money if it is invested at 10% compounded quarterly?N=
The payment for a certain loan was arranged such that Dino will pay $5,500 every month for the first 7 months; no payments for the next 5 months; then the monthly payments of $5,500 will continue for another 18 months. If the settlement rate is 1.5% compounded monthly, then the amount of the payments at the end of the term is Blank 1. Blank 1 Add your answer
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 $15,000 on the purchase of a new automobile, and the annual interest rate is 6% (0.5% per month). a. Monthly payments over a 36-month loan period will be how much? b. How much interest and principal will be paid within three month of this loan?
At the time of retirement, a couple has $200,000.00 in an account that pays 8.4%compounded monthly. If they decide to withdraw equal monthly payments for 10 years, at the end of which time the account will have zero balance, how much shouldthey withdraw each month?
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 $15,000 on the purchase of a new automobile, and the annual interest rate is 6% (0.5% per month). a. Monthly payments over a 36-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 i = 0.5% per month. a. The monthly payment over a 36-month loan period is $ 456.3. (Round to the nearest cent.) b. Fill in the table below. (Round to the nearest cent.) Payment Number 1 2 3 Interest Payment $ $ $ Principal Repayment $ $ $ Remaining Loan Balance $ $ $
1.Mr. Dela Cruz borrowed P9,000 with 8% interest compounded semi annually is to be amortized by semi annual payments over the next 5 years. The first due in 6 months. Determine the semi annual payments. 2.A car whose cash price was P640,000 was bought with a downpayment of P162,000 and a monthly installment of P10,874 for 5 years . What was the rate of interest if compounded monthly?
out of Sam got a job at the Brick. He plans to save $500 every month for 3 years to buy a car. The savings account earns 2.25% compounded monthly. If he puts the money in his savings account at the end of each month, how much interest is included in the future value of the annuity? Select one: OA $18 000.00 OB.$18 603.37 OC $603.37 D. $408.04 OE$18.408.04 Clear my choice
A man purchased a car with a cash price of P350,000. He was able to negotiatewith the seller to allow him to pay only a down payment of 20% and the balance payablein equal 48 end of the month installment at 1.5% interest per month. Once the day hepaid the 20th installment, he decided to pay monthly payment. What is the remainingbalance that he paid? OPTIONS A. P186,927.24 B. P188,225.00 C. P187,701.26 D. P185,900.20
Stephen loaned P600,000.00 from a bank with interest at 6% compounded annually. He agreed to pay his obligations by paying 5 equal payments, the first being due at the end of 10 years. Find the annual payments a. P225,228.00 O b. P255,228.00 O c. P255,822.00 O d. P255,282.00
1. If you desire to withdraw the following amount in the sechedule below from the savings account which earns a 7% interest compounded annually, how much do you need to deposit now? Use equation of value with focal point at point 2. Withdrawal (PhP) End of Period Amount of deposit (PhP) P. 1 32,000 33,000 36,000 38,000 4 Convert 12% compounded semi-annually to "T compounded quarterly. P4000 is borrowed for 75 days at 16% per annum ordinary simple interest. How much will be due at the end of 75 days?
Suppose a certain manufacturer deposits $3, 000 at the beginning of each 3 month period for 8 years in an account paying 8% interest compounded quarterly. (Round your answers to the nearest cent.) (a) How much (in $) will be in the account at the end of the 8 year period? $ Incorrect: Your answer is incorrect. (b) What is the total amount (in $) of interest earned in this account? $ Incorrect: Your answer is incorrect
Time for a lump sum to double How long will it take $500 to double if it earns the following rates? Compounding occurs once a year. Round each answer to two decimal places. O a. 3%. year(s) b. 9%. year(s) c. 21%. year(s) d. 100%. year(s)