A mechanic is considering expanding his garage. After a strong year last year, the mechanic is able to finance the expansion from last year's profits. The expansion itself is expected to cost $11,000. The mechanic estimates that the additional garage will bring in revenue totaling $12,000. The mechanic is currently receiving an interest rate of 8% on his saved profits. Should he make the investment?
+3
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A mechanic is considering expanding his garage. After a strong year last year, the mechanic is able to finance the expansion from last ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Home » Business » A mechanic is considering expanding his garage. After a strong year last year, the mechanic is able to finance the expansion from last year's profits. The expansion itself is expected to cost $11,000.