Economics Rate of Interest Calculation For Buying Statues Exercise

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Economics Rate of Interest Calculation For Buying Statues Exercise
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DrGates
School: UCLA

Attached.

Running head: ECONOMICS

1

Economics
Student’s Name
Institution Affiliation

ECONOMICS

2

What to charge for each statute to earn return rate of 2.8% per month
Return wanted per month (rate of return, i) = 2.8%
Number of months (n) (4 years) = 4*12 = 48
Current costs per ounce (PV) = $0.6134
Price of ounce is falling consistency per month (for next 6 years) = $0.005
Periodic rate (I/Y) = 0.005/0.6314 = 0.8151%
PMT = $0.005
FV =PV (1-i/y)n-1 = 0.6134(1-0.008151)47 = $0.4203
Cost incurred due to usage in the month=. For 43 statues the printer is using 2.25 ounces of the
material and its cost in the nth month is (0.6314-0.005(n-1...

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Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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