11–5. acceptance. judy olsen, kristy johnston, and their mother, joyce johnston, owned seventy-eight acres of real property on eagle creek in meagher county, montana. when joyce died, she left her interest in the property to kristy. kristy wrote to judy, offering to buy judy's interest or to sell her own interest to judy. she requested that judy " respond to bruce townsend." in a letter to kristy—not to bruce—judy accepted the offer to buy kristy's interest in the property. by that time, however, kristy had offered to sell her interest to their brother, dave, and he had accepted. did judy and kristy have an enforceable binding contract, entitling judy to specific performance? or did kristy's offer so limit its acceptance to one exclusive mode that judy's reply was not effective? discuss. [olsen v. johnston, 368 mont. 347, 301 p.3d 791 (mont. 2013)]

you had the wrong answer

month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87

month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15

month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

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