Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose a number of your friends have organized a company to develop and sell a new software product. They have asked you to loan them

Suppose a number of your friends have organized a company to develop and sell a new software product. They have asked you to loan them $9,000 to help get the company started, and they have promised to repay your $9,000 plus 8% interest in one year. Of the following, which amount may be described as the return on your investment?

$720.

$8,280.

$9,720.

$9,000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions