Suppose that the demand for loanable funds for car loans in the Milwaukee area is $12 million per month at an interest rate of 10 percent per year, $13 million at an interest rate of 9 percent per year, $14 million at an interest rate of 8 percent per year, and so on. If the supply of loanable funds is fixed at $16 million, what will be the equilibrium interest rate? Instructions: Enter your answer as a whole number. * percent per year
Suppose that the demand for loanable funds for car loans in the Milwaukee area is $12 million per month at an interest rate of 10 percent per year, $13 million at an interest rate of 9 percent per year, $14 million at an interest rate of 8 percent per year, and so on. If the supply of loanable funds is fixed at $16 million, what will be the equilibrium interest rate? Instructions: Enter your answer as a whole number. * percent per year
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.2P
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