Answer to Question #127211 in Microeconomics for mimi

Question

1.1) You lend a friend RM20,000 for a year. At the end of the year your friend agrees to pay you RM21,100. The interest rate on this loan is _______
Working Calculation:
1.2) You lend a friend RM20,000 for a year at an annual interest rate of 5%. At the end of the year your friend must pay you ________ in interest.
Working Calculation:
1.3) You agree to lend ________ to a friend for a year at an annual interest rate of 10%. At the end of the year your friend pays you RM600 in interest.
Working Calculation:
1.4) You use RM40,000 of your own money to start a catering business. During the first year you earn a 5% return on that investment. If the current interest rate on savings is 8%, you earn an economic profit of ___________
Working Calculation:
1.5) You use RM50,000 of your own money to start an espresso stand. During the first year you earn a 10% return on that investment. If the current interest rate on savings is 8%, you earn an economic profit of ___________
Working Calculation:

Answer 1

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