Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 18, 2024

An individual purchases an interest in a restaurant for $500,000. Three years later the investor sells his interest for $620,000. What was the percentage amount

An individual purchases an interest in a restaurant for $500,000. Three years later the investor sells his interest for $620,000. What was the percentage amount of this investors total gain on the investment?

A. 24% B. 22% C. -24% D. -22%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Anxiety Audit

Authors: Lynn Lyons

1st Edition

0757324258, 978-0757324253

More Books

Students also viewed these Accounting questions

Question

★★★★★

If conflicts develop into a situation where mistrust prevails, would you expect activity documentation to increase or decrease? Why?

Answered: 1 week ago

Question

★★★★★

Consider the ratio EBITD/Assets. What does this ratio tell us? Way might it be more useful than ROA in comparing two companies?

Answered: 1 week ago

Question

★★★★★

Convert the hexadecimal number 7A01 to binary.

Answered: 1 week ago

Question

★★★★★

Grand Slam Manufacturing Co. operates on a modified wage plan. During one week's operation, the following direct labor costs were incurred: The employees are machine operators. Piece rates vary with...

Answered: 1 week ago

Question

★★★★★

On January 1, 2021 M.T. Glass purchased the following investments: 1. 7,500 shares (representing 15%) of ZZ Company stock for $98,000 2. 25,000 shares (representing 40%) of AA Company stock for...

Answered: 1 week ago

Question

★★★★★

2 4 points On a recent job repairing a large boat engine, Marine Repairs Company worked 55 hours and used parts with a cost of $10,400. Marine Repairs Company charges $110 per hour of labor and has a...

Answered: 1 week ago

Question

★★★★★

Question 1: Discuss the concept of social stratification. How does it manifest in modern societies, and what are the implications for social mobility? Question 2: Examine the role of culture in...

Answered: 1 week ago

Question

★★★★★

Question 1: Discuss the concept of social change. What are the main factors that contribute to social change, and how do these factors interact? Question 2: Evaluate the role of education in...

Answered: 1 week ago

Question

★★★★★

Question 1 Discuss the various stages of cognitive development as proposed by Jean Piaget. How do these stages explain the differences in cognitive abilities observed in children of different ages?...

Answered: 1 week ago

Question

★★★★★

Question 1 Discuss the key principles of liberal democracy and how they differ from other forms of government, such as authoritarianism and totalitarianism. Use examples from different countries to...

Answered: 1 week ago

Question

★★★★★

What is the formula to calculate the mth Fibonacci number?

Answered: 1 week ago

Question

★★★★★

2. Based on your research and practical experience, what are some of the most effective ways to ensure successful school-to-work transition?

Answered: 1 week ago

Question

★★★★★

3. Rachel plans on hiring recruiters to assist her in staffing these 50 positions. Knowing the company will require the recruiters to adhere to the concept of employer branding, describe what steps...

Answered: 1 week ago

Question

★★★★★

7.1 Define selection and discuss its strategic importance.

Answered: 1 week ago

Previous Question Next Question