As a small business owner, you need to set up an office in your house. you estimate it will cost $6000 to buy furniture and supplies. calculate the simple interest for one year if you used the following methods of credit to make these purchases: (a) retail credit card 24 percent, (b) universal credit card 17 percent, and (c) term loan 8 percent.

Grace period is a period of time before the credit card company starts charging late fees.truefalse

You wants to open a saving account.which account will grow his money the most

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