On january 1, year 1, aj borrows $41,000 to purchase a new vehicle by agreeing to a 4.0%, 6-year loan with the bank. payments are due at the end of each month with the first installment (vehicle payment) due on january 31, year 1. after completing the problem, round your answers to the nearest dollar. when inputting the monthly interest rate do not round it (use the math function in the spreadsheet/financial calculator). a. determine the monthly vehicle payment (installment)? b. determine the interest expense for the first car payment? c. how much of the payment will decrease the amount owed (principal)? d. after the first vehicle payment is made the amount owed on the vehicle would be? e. determine interest expense for the second car payment $?

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Consider the following information on stocks a, b, c and their returns (in decimals) in each state: state prob. of state a b c boom 20% 0.27 0.22 0.16 good 45% 0.16 0.09 0.07 poor 25% 0.03 0 0.03 bust 10% -0.08 -0.04 -0.02 if your portfolio is invested 25% in a, 40% in b, and 35% in c, what is the standard deviation of the portfolio in percent? answer to two decimals, carry intermediate calcs. to at least four decimals.