Business, 20.06.2020 04:57, agray062103

Dolores used to work as a high school teacher for $55,000 per year but quit in order to start her own catering business. To buy the necessary equipment, she withdrew $30,000 from her savings (which paid 2 percent interest per year) and borrowed $30,000 from her uncle, to whom she pays 3 percent interest per year. Last year she paid $25,000 for ingredients and had revenue of $75,000. She asked Louis, an accountant, and Greg, an economist, to calculate her profit for her. What did they say?

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Dolores used to work as a high school teacher for $55,000 per year but quit in order to start her ow...