Richard Davis, Owns a Butcher and Grilling Supply Store

question 43

Short Answer

Richard Davis, owns a butcher and grilling supply store. Richard borrows $7,500 for 150 days at 8% ordinary simple interest. What total will Richard need to repay for both interest and principal? (Use a 360-day year.)​

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Definitions:

Positive Externalities

Benefits experienced by a third party not directly involved in the production or consumption of a good or service.

Socially Desirable

Something that is socially desirable is valued and sought after in a society because it promotes the general welfare or aligns with societal norms and values.

Allocate Resources

The process of distributing available resources among various projects or units in order to achieve strategic goals effectively.

Internalize

The process by which a company takes into account the external costs (or benefits) of its activities, usually environmental, by incorporating them into its business decisions and cost structures.