Richard is a landscaper who is planning to break away from his employer and start his own landscaping company. In his fi
Posted: Wed Jul 06, 2022 6:27 pm
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?