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Unformatted text preview: M1 as a share of M2 has been falling, this combined with the previous chart implies liquid deposits are becoming a less important component of the money supply. 5. Lex ‘s payment can be solved using the following formula for a fixed monthly payment 30 year loan : In excel FP = PMT(.065/12,12*30,200000) 6. Current yield can be found by solving for Yield to maturity can be found by solving for excel formula RATE(5,75,980,1000) = 8% 7. Yield to maturity can be found by solving for excel formula RATE(30*12,1300,190000)*12 =7.28% 8. The APY can be found by solving for where is the nominal interest rate and is the number of compounding periods a year. Option Nominal Rate Period s APY Year End Balance 1 5.00% 1 5.00% $127628.2 2 4.95% 2 5.01% $127696.6 3 4.90% 4 4.99% $127572.1 4 4.85% 12 4.96% $127380.9...
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This note was uploaded on 05/13/2010 for the course ECON 323 taught by Professor Jakes during the Spring '10 term at Alcorn State.
 Spring '10
 Jakes
 Inflation

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