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 $?

while setting up his new office, an attorney ordered thick, frieze carpets for the floor. however, the building inspector had him remove the expensive carpeting. the building inspector stated that according to federal regulations, the office must be wheelchair accessible as it is a public area. he further explained that since wheelchairs do not maneuver well in thick, frieze carpeting, the carpets had to be removed and be replaced with smooth-textured carpets that do not restrict wheelchair maneuverability. this scenario illustrates how a company is influenced by the component of its specific environment.

What is the difference between a public and a private corporation?

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale