Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Come up with ways to take the $20,000 and grow it in 3 years. The investment will cost you 12% per year, no payment for
Come up with ways to take the $20,000 and grow it in 3 years.
The investment will cost you 12% per year, no payment for 3 years, pay off in full in 3 years.
Develop a plan to grow the funds to produce the highest return in 3 years.
Fixed Exp | Var Exp | ||||||||
Rent | $ 1,200 | Food | $ 300 | $ 20,000 | 1% | $ 200 | |||
Car | $ 500 | Gas | $ 300 | $ 46.51 | |||||
Car Ins | $ 400 | Fun | $ 100 | $ 1,163.71 | |||||
Util | $ 250 | Personal Care | $ 75 | ||||||
Phone | $ 75 | Savings | $ 100 | ||||||
Internet | $ 100 | ||||||||
Student loan | $ 100 | ||||||||
$ 2,625 | $ 875 | $ 3,500 | |||||||
$ 1,155 | 33% | ||||||||
$ 4,655 | $ 55,860 | $ 1,117.20 | |||||||
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