Walter used to work as a high school teacher for $40,000 per year but quit in order to start his own painting business. to invest in his painting business, he withdrew $20,000 from his savings, which paid 3 percent interest, and borrowed $30,000 from his uncle, whom he pays 3 percent interest per year. last year walter paid $25,000 for supplies and had revenue of $60,000. walter asked tyler the accountant and greg the economist to calculate his painting business's profit.
a. tyler says his profit is $34,100, and greg says his profit is $34,100.
b. tyler says his profit is $25,900, and greg says his profit is $66,500.
c. tyler says his profit is $35,000, and greg says he lost $5,900.
d. tyler says his profit is $34,100, and greg says he lost $6,500.
Answers: 1
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Walter used to work as a high school teacher for $40,000 per year but quit in order to start his own...
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