Richard is a landscaper who is planning to break away from his employer and start his own landscaping company. In his fi

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Richard is a landscaper who is planning to break away from his employer and start his own landscaping company. In his fi

Post by answerhappygod »

Richard is a landscaper who is planning to break away from hisemployer and start his own landscaping company. In his first year,Richard expects to make $23,000 in profit from his business afterhe pays all expenses (including for his own labor). To get started,he needs a $18,583 loan to purchase needed equipment. The bank hasoffered him a one-year loan. What is the maximum interest rateRichard is able to accept for this loan?
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”