When price rises, quantity demanded falls. The price elasticity of demand measures: the percentage fall in price. how much the equilibrium price rises. the responsiveness of an income change to a price change. the respeness of quantity demanded to a price change.

Find the missing value. \[ P=\operatorname{Php} 12,000 ; r=5 \% ; t=\text { ? } \] years; \( \quad=6,000 \) Your answer

After 2 years Maggie paid \( \$ 75 \) interest on a loan that had a \( 6 \% \) simple interest rate. How much did she borrow?

Record estimated bad debts assuming that Allowance for Doubtful Accounts has a \$1,600 credit balance.

than is looking to take out a mortgage or \( \$ 620,000 \) from a bank offering an nnual interest rate of \( 4.5 \% \), ompounded monthly. Using the formula elow, determine his monthly payment, o the nearest dollar, if the loan is taken ver 25 years. \[ M=\frac{P r}{1-(1+r)^{-n}} \]

Consider a credit card with a balance of \( \$ 9000 \) and an APR of \( 16.5 \% \). If you want to make monthly payments in order to pay off the balance in 3 years, what is the total amount you will pay? Round your answer to the nearest cent, If necessary.