Question #117788
John secured the bank's $2,000 mortgage to buy a car. After the contract was written it turned out that inflation in the economy was lower than expected. Who gained from this development and who lost? Explain
1
Expert's answer
2020-05-25T09:39:34-0400

Due to inflation in economy John gained and bank lost as the rate decreases so john need to pay less money


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Place free inquiry
Calculate the price
Learn more about our help with Assignments: Macroeconomics

Comments

No comments. Be the first!
Our fields of expertise
Submit Your Assignment. We Can Do It.
LATEST TUTORIALS
APPROVED BY CLIENTS
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot
Canada #339914 on Dec 2023