You used $3,000 to go on vacation instead of paying of $3,00…
You used $3,000 to go on vacation instead of paying of $3,000 of credit card debt. That unpaid debt accrued an extra $500 in interest before you finally paid it off. Including the opportunity cost, how much did the vacation really cost you?
Read DetailsYou want to purchase a vehicle and need to get a loan. The…
You want to purchase a vehicle and need to get a loan. The Risk free interest rate is 2%. The Bank charges a 2% risk premium when they lend to the auto dealer. The Car dealership charges a 3% risk premium to the loan they offer you. What interest rate will you be charged if you receive your auto loan from the auto dealership?
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