A higher FICO score (a well-known measure of borrower reliability) is associated with lower interest rates. For example, the total interest paid on a $20,000 car loan over 3 years will by $2,181 for a FICO score of 660, and $1,056 for a FICO score of 760, a saving of $1,125 over the life of the loan, or $31.25 per month. If the discount rate = 1% per month, what is the present worth of the savings

Why is it easier for new entrants to get involved in radical innovations when compared to incumbent firms? a. unlike incumbent firms, new entrants do not have to face the high entry barriers, initially. b. new entrants are embedded in an innovation ecosystem, while incumbent firms are not. c. unlike incumbent firms, new entrants do not have formal organizational structures and processes. d. incumbent firms do not have the advantages of network effects that new entrants have.