Question 2 (multiple choice) brad clark took out a simple interest loan at 13% interest for 12 months. his previous balance is $619. what is the final payment if the loan is paid off with the next payment? (hint: first find the monthly interest rate and multiply it by the previous balance. this gives you the final interest charge. then, add the interest to the remaining balance.) a. $625.71 b. $621.00 c. $675.09

Suppose the price of frozen yogurt, a substitute for ice cream, increases. what happens to equilibrium price and quantity of ice cream? a. the price and quantity of ice cream both increase b. the price and quantity of ice cream both decrease c. the price of ice cream increases and the quantity decreases d. the price of ice cream decreases and the quantity increases

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Your father's employer was just acquired, and he was given a severance payment of $375,000, which he invested at a 7.5% annual rate. he now plans to retire, and he wants to withdraw $35,000 at the end of each year, starting at the end of this year. how many years will it take to exhaust his funds, i.e., run the account down to zero? a. 22.50 b. 23.63 c. 24.81 d. 26.05 e. 27.35