Top Posters
Since Sunday
5
o
5
4
m
4
b
4
x
4
a
4
l
4
t
4
S
4
m
3
s
3
New Topic  
maportil maportil
wrote...
Posts: 137
Rep: 0 0
A year ago
An individual plans to borrow a sum of $10,000 for 1 year. The nominal interest charged on the borrowed sum is 6 percent.
a) If he takes the loan, what will be the interest amount and the total amount that he would have to pay at the end of the year?
b) If the rate of inflation in the economy is 10 percent, then is it a good idea for him to take the loan? Why or why not?
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
Read 34 times
1 Reply
Replies
Answer verified by a subject expert
raihala49raihala49
wrote...
Posts: 141
Rep: 1 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
This verified answer contains over 120 words.
1

Related Topics

maportil Author
wrote...

A year ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
wrote...

Yesterday
Thank you, thank you, thank you!
wrote...

2 hours ago
Brilliant
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  845 People Browsing
 108 Signed Up Today
Related Images
  
 972
  
 1445
  
 1050
Your Opinion