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Home Question Bank Economics Archive 2024 November 16

Economics Questions from Nov 16,2024

Browse the Economics Q&A Archive for Nov 16,2024, featuring a collection of homework questions and answers from this day. Find detailed solutions to enhance your understanding.

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¿A qué tasa de interés anual se coloco un capital de \( \$ 300000 \) para que se convierta en Respuesta \( =222,857 \% \) 10. Debbie receives a weekly salary of \( \$ 80 \), plus a \( 5 \% \) commission on any sales. During the week, she has \( \$ 800 \) in total sales. What's the ratio of her commission to her salary? Marcie bought a can of corn at the supermarket. The price on the shelf said \( \$ 3.99 \), but when Marcie went through the checkout lane, she presented the cashier with a piece of paper that allowed the cashier to reduce the price by \( \$ 0.25 \). Which type of discount is this? A. A sale B. A gift card C. A coupon D. A rebate A credit card had an APR of \( 33.01 \% \) all of last year and compounded interest daily. What was the credit card's effective interest rate last year? A. \( 37.33 \% \) B. \( 38.49 \% \) C. \( 39.09 \% \) D. \( 35.73 \% \) Irene has a credit card that uses the previous balance method. The opening balance of one of her 30 -day billing cycles was \( \$ 2510 \), but that was her balance for only the first 5 days of the billing cycle, because she then paid off her entire balance and didn't make any new purchases. If her credit card's APR is \( 11 \% \), which of these expressions could be used to calculate the amount Irene was charged in interest for the billing cycle? A. \( \left(\frac{0.11}{365} \cdot 30\right)(\$ 2510) \) B. \( \left(\frac{0.11}{365} \cdot 30\right)\left(\frac{5 \bullet \$ 2510+25 \bullet \$ 0}{30}\right) \) C. \( \left(\frac{0.11}{365} \bullet 30\right)\left(\frac{5 \bullet \$ 0+25 \bullet \$ 2510}{30}\right) \) D. \( \left(\frac{0.11}{365} \cdot 30\right)(\$ 0) \) Darrel just bought his very first mountain bike, an aluminum-framed front-and- rear suspension beauty that he's been saving for for many months. For Darrel, the mountain bike is most likely what type of purchase? A. Minor new purchase B. Major new purchase c. Minor repurchase D. Major repurchase \( 1 \leftarrow \quad \begin{array}{l}\text { How much should Linda Bryan set aside now to buy equipment that costs } \$ 6,800 \text { in one year? The current interest rate is } 0.65 \% \text { annually, compounded } \\ \text { annually. }\end{array} \) Compute the amount of money to be set aside today to ensure a future value of \( \$ 2,900 \) in one year if the interest rate is \( 3.5 \% \) annually, compounded annually. Tom Bond borrowed \( \$ 6,400 \) at \( 6 \frac{1}{2} \% \) for three years compounded annually. What is the compound amount of the loan and how much interest will he pay on the loan? Use the simple interest formula method. 12. An accountant has a monthly income of \( \$ 7,400 \). The income tax the accountant has to pay is \( 6 \% \). What is the amount of income tax in dollars and cents that the accountant has to pay FOR THE YEAR?
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