GDP per Capita in 1990 International Dollars 1000 1500 1820 1995 Year $425 $420 $545 $675 $5,188 World $439 $406 $624 $1,149 $19,990 The West West Europe 450 400 670 1,269 17,456 North America 400 400 400 1,233 22,933 400 425 525 675 19,720 Japan $423 $424 $532 $594 $2,971 The Rest Other Europe 400 597 803 5,147 400 Latin America 400 415 415 671 5,031 China 450 450 600 600 2,653 Other Asia 425 425 525 560 2,768 Africa 400 400 400 400 1,221 According to the table, by what percentage did GDP per capita increase between 1820 and 1995 in Instructions: Round your responses to one decimal place. a. World? b. The West? c. The Rest?

You take out a loan of $12,000 to pay for a piece of equipment. You plan to repay the loan in 16 years. You can afford to pay a maximum of $1,100 each year. What interest rate would allow for you to pay off the entirely of the loan in equal payments?

James has been working as a Mechanical Engineer ever since he graduated five years ago. Two years ago, he bought and financed a new $25,000 Jeep Compass and still owes $15,750 on his car loan. He has never been late with a car payment. James has one major credit card, with a $1,000 limit. He has had it since his senior year of college and was two months late with a payment one time during that first year. He is currently carrying a balance of $600 on this card. In the last year, James applied for six store credit cards at places that he shops a lot so that he can earn points and get discounts. He carries no balances Part 1: Calculate James’ credit score. Recalculate his credit score if he had not opened the six store credit cards.   Part 2: James is tired of paying rent and would like to purchase a condo so that he can start building equity in his home. He is looking for a 30-year mortgage to purchase a $240,000 condo. What interest rate does James qualify for on a mortgage with his…

How does amortization help in making loans affordable?