Jim bought an used tablet for $100 and agreed to pay for it with a single $120 payment at the end of three months.

What is the nominal annual interest rate? (5 points)

What is the annual effective interest rate?

Pam, when she turned 25, made an investment of $20,000 at an interest rate of 6.5% compounded semi-annually. Now that she is 50 years old, how much is the investment worth now.

1) The real price of a shirt in 1974 in 2020 dollars is $421.07. If the CPI in 1974 was 49.3 and the CPI in 2020 is 259.5, what is the nominal price of the calculator? Round to 2 decimal places.

2) If the price of milk in July 2012 was $2.53 per gallon and the price of milk in July 2014 was $3.58 per gallon, we can not say there has been inflation. True or False.

3) Your mother tells you she earned $3.00 per hour when she was 15 in 1977; you remember making $6.00 per hour when you were 15 in 1999.

Given that the CPI was 36.7 in 1977 and 166.1 in 1999, which of the following is the 1999 real equivalent of your mother’s hourly earnings when she was 15? Options: $6.78, $13.58, $15.01, $4.48

This is a Numeric Entry question/It is worth 2 points/ You have unlimited attempts / There is a 20% attempt penalty 06 Question (2 points) The budget line can be drawn as a line, where x2 = 8.71 -0.77xı. See page 22 2nd attempt Part 1 (1 point) Feedback See Hint If income (m) = 270.00, what is P2? 40 Round your answer to the nearest Integer. Part 2 (1 point) Feedback See Hint If income (m) – 270.00, what is pi? 31 Round your answer to the nearest integer. > 1st attempt

This is a Multiple Select question/It is worth 1 point/You have unlimited attempts/There is a 20% attempt penalty 11 Question (1 point) See page 24 The price of Xi is $2, the price of X2 is $8, and income is $320.00 3rd attempt See Hint

Which of the following statements about the budget line are true? Choose one or more:

A. The vertical intercept of the budget line is 160.00.

B. The slope of the budget line is -0.25.

C. With income of $320.00, a bundle of 10 units of x, and 10 units of X2 is affordable.

D. The opportunity cost of one more unit of X2 is -0.25 units of Xı.

Points The demand for a product is 1000 items when the price is set tore and the demand decreases by Sitems for every delle price increases. We down an equation for the demand as a function of price. Define your nation clearly to receive full credit. You can either use the space below to type your answer or upload a photo of your answer Enter your answer here

Elasticity: Measuring Responsiveness — End of Chapter Problem Individuals differ in their willingness to pay for air travel, and airlines would like to charge different prices to different individuals based on their willingness to pay.

Airlines typically attempt to divide passengers into two types: leisure travelers and business travelers. Suppose that an airline is charging $400 per ticket for all passengers on flights between New York and Washington D.C.

The accompanying tables provide information on quantity demanded for air travel for leisure travelers and business travelers. Price (per ticket) Quantity‑leisure travelers (tickets per flight) $400 100 $500 50 Price (per ticket) Quantity‑business travelers (tickets per flight) $400 100 $500 90

a. What is the absolute value of price elasticity for leisure travelers if the airline increases the price to $500? Round your answer to the nearest whole number.

b. What is the change in total revenue for leisure travelers when the price increases to $500? $

c. What is the absolute value of price elasticity for business travelers if the airline increases the price to $500? Round your answer to the hundredths place.

d. What is the change in total revenue for business travelers when the price increases to $500?

E Book Video Given that z is a standard normal random variable, find z for each situation (to 2 decimals). Enter negative values as negative numbers.

a. The area to the left of z is 0.2119. -0.8

b. The area between – z and z is 0.9030. 1.66

c. The area between – z and z is 0.2052 . 0.27

d. The area to the left of z is 0.9948 . 2.56

e. The area to the right of z is 0.6915. -0.5

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