Payments of $1430 Due One Year Ago and $1175 Due

question 50

Essay

Payments of $1430 due one year ago and $1175 due with interest of 6% in nine months are to be settled by three equal payments due today, seven months from now, and one year from now at 7.5%. Determine the size of the equal payments if the agreed focal date is one year from today.

Comprehend Adam Smith's theories on self-interest and the invisible hand in economics.

Acknowledge the potential for conflict between efficiency and equity goals within an economic system.

Identify the characteristics and functions of public goods.

Describe the historical and theoretical foundations of communism, including Karl Marx's predictions.