Suppose that georgiania was a thriving empire in its golden age. business was booming and it was the center of international trade under the leadership of emperor raphael iii. his empire's pride and joy was the trading of green and black tea, and he decreed that their entire economy should be built around it. however, in the mid 1800s, georgiania experienced a severe economic downturn when the other nations of the world created an embargo on tea from georgiania, which led to civil strife due to thousands of workers being laid off.
a downward fluctuation in the economy like this is known as a )
the correct term is a key component )

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan