Top Posters
Since Sunday
5
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
maportil maportil
wrote...
Go to Answer
Posts: 142
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 39 times
1 Reply
Replies
Answer verified by a subject expert
raihala49raihala49
wrote...
#1
Posts: 144
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
You make an excellent tutor!
jmendoza
wrote...

Yesterday
this is exactly what I needed
alpheratz
wrote...

2 hours ago
Thanks
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1281 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 92
  
 298
  
 354
Your Opinion
Do you believe in global warming?
Votes: 370
Previous poll results: Who's your favorite biologist?