Q2 For the following economic calculations, write the factors (multipliers) that should be used,in (i) using the parameter values, and in (ii) calculate the result by showing your computations. Write theresults you find in the spaces left. (Use factors for your calculations.).EXAMPLE: If you deposit $ 100 to a bank account that earns 8% annual interest, how much money will youhave in this account after five years?(i)(F/P, 8%, 5)(ii)146.93100 * (F/P, 8%, 5) = 100 * 1.4693 = 146.93 TLa. You plan to take a credit with $1500 installment size per year with an annual interest rate of 8%over six years from a bank. What is the amount of your current credit?(i).(ii.b. A bank is required to deposit money for four years with an interest rate 10%. The money depositedat the end of the first year is 6000 TL and the amount of money deposited in the next three yearswill be reduced by 500 TL every year. How much money will be in the bank at the end of the fourthyear?(ii).

Answered: Image /qna-images/answer/7126515d-a130-4495-a0d2-90804cc79748.jpg

a. You plan to take a credit with $1500 installment size per year with an annual interest rate of 8% over six years from a bank. What is the amount of your current credit? (i). (ii). b. A bank is required to deposit money for four years with an interest rate 10%. The money deposited at the end of the first year is 6000 TL and the amount of money deposited in the next three years will be reduced by 500 TL every year. How much money will be in the bank at the end of the fourth year? (i).

a. You plan to take a credit with $1500 installment size per year with an annual interest rate of 8% over six years from a bank. What is the amount of your current credit? (i). (ii). b. A bank is required to deposit money for four years with an interest rate 10%. The money deposited at the end of the first year is 6000 TL and the amount of money deposited in the next three years will be reduced by 500 TL every year. How much money will be in the bank at the end of the fourth year? (i).

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.4P

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