Micro Brewery Borrows $300,000 to Be Paid Off in Three

question 78

Multiple Choice

Micro Brewery borrows $300,000 to be paid off in three years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment?

• A)$ 55,379.
• B)$106,059.
• C)$ 30,138.
• D)$ 60,276.$300,000 5.41719* = $55,379 *PVA of $1: n=6; i=3%

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Definitions:

Behavioral Economics

A branch of economics that studies how psychological, cognitive, emotional, cultural, and social factors affect economic decisions.

Nudging

Nudging involves subtly guiding choices or behaviors without restricting options, often used in policy and marketing to influence decision-making.

Dictator Game

An experimental game in economics where one player, the "dictator," determines how to split a sum of money with another player.

Behavioral Economics

An area of economics that examines the influence of psychological, cognitive, emotional, cultural, and social aspects on economic decision-making.