Dawn's credit card has an APR of 15%, calculated on the previous monthly balance, and a minimum payment of 2%, starting the month after the first
purchase. Her credit card record for the last 7 months is shown in the table
below.
End of Previous
New Payment Finance Principal
New
month balance
charges
received charges paid balance
1
$0.00 $1700.00 $0.00
$0.00
$0.00 $1700.00
2 $1700.00 $0.00
$34.00 $21.25 $12.75 $1687.25
3 $1687.25 $0.00
$33.75
$21.09 $12.65 $1674.60
4
$1674.60 $0.00 $33.49 $20.93 $12.56 $1662.04
5 $1662.04 $0.00
$33 24 $20.78 $12.47 $1649 57
$1649.57 $0.00 $32.99 $20.62 $12.37 $1637 20
17 S1637.20 $0.00 $32.74 $20.46 $12.28 $1624.92
0) OWN
What is the total amount that Dawn has paid in interest over the 7 months?

Michigan mattress company is considering the purchase of land and the construction of a new plant. the land, which would be bought immediately (at t = 0), has a cost of $100,000 and the building, which would be erected at the end of the first year (t = 1), would cost $500,000. it is estimated that the firm's afterminustax cash flow will increase by $100,000 starting at the end of the second year, and that this incremental flow would increase at a 10 percent rate annually over the next 10 years. what is the approximate payback period?

Suppose that real interest rates increase across europe. this development will u.s. net capital outflow at all u.s. real interest rates. this causes the loanable funds to because net capital outflow is a component of that curve.

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]