Unformatted text preview: seeds, he may promise to return 550 quintals after the harvest season. The additional 50 quintals he returns is the real interest on the capital lent. The rate of interest in this case is 10 percent. Since almost all economic transactions today are performed in currency units the rate of interest is charged and paid in monetary units....
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This note was uploaded on 11/26/2011 for the course ECONOMIC ec 201 taught by Professor - during the Fall '10 term at Montgomery.
- Fall '10