Business, 04.11.2021 20:30, kristygodwin

last year, jarod left a job that pays $80,000 to run his own bike repair shop. jarod’s shop charges $65 for a repair, and last year the shop performed 4,000 repairs. jarod’s production costs for the year included rent, wages, and equipment. jarod spent $60,000 on rent and $120,000 on wages for his employees. jarod keeps whatever profit the shop earns but does not pay himself an official wage. jarod used $25,000 of his savings to buy a machine for the business. his savings were earning an annual interest rate of 6 percent.

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last year, jarod left a job that pays $80,000 to run his own bike repair shop. jarod’s shop charges...