1. Assume a local government has determined they will increase taxes in order to raise revenue to support their capital improvements plan. Contrast and compare the merits of increasing property taxes versus sales taxes. Consider the various forces which effect public budgeting in your response.
2. Calculate the APR of a loan for $9,625, including loan fees of $150, at 10% for 4 years. (Do not round intermediate calculations. Round your answer to the nearest tenth percent.)