Use the Information for the Question(s)below

question 61

Multiple Choice

Use the information for the question(s) below.
Two years ago,you purchased a new SUV.You financed your SUV for 60 months (with payments made at the end of the month) with a loan at 5.9% APR.You monthly payments are $617.16 and you have just made your 24th monthly payment on your SUV.
-The amount of your original loan is closest to:

• A)$14,808.
• B)$22,212.
• C)$32,000.
• D)$37,020.

---

Definitions:

Marginal Physical Product

The additional output produced by employing one more unit of a specific factor of production, holding all other factors constant.

Marginal Revenue

The additional revenue earned by a firm for selling one more unit of a good or service, crucial for decision-making on production levels.

Demand Schedule For Capital

A table or graph showing the amount of capital that businesses wish to invest at different possible rates of interest.

Marginal Revenue Product

Incremental revenue obtained from the use of one more unit of a production input, such as labor or capital.