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September 2, 2015

Homework Help: Finance

Posted by James on Thursday, April 12, 2012 at 12:56am.

A grocery store manager must decide whether to buy four rug cleaners to rent to customers. The manager estimates that the first would yield $200 a year, the second $150, the third $75, and the fourth $20. If the interest rate is 12 percent and each rug cleaner costs $500, how many should the manager buy? a. none b. two c. one d. four e. three

The answer is three, but how do I get it?

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