Ask Question
4 September, 03:19

A grocery store manager has $600 in cash with which to buy a rug cleaner. Rental income from the cleaner would be about $75 per year. The interest rate is 11 percent. Should the manager buy the machine?

+5
Answers (1)
  1. 4 September, 07:08
    0
    Yes, the manager should buy the machine

    Explanation:

    If we find the interest of the 600 results in: Interest = $ 600 * 0.11 = $ 66

    So, if it is convenient to buy the machine since the rate of return is higher than the interest rate.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A grocery store manager has $600 in cash with which to buy a rug cleaner. Rental income from the cleaner would be about $75 per year. The ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers