As a successful entrepreneur and CEO, you are considering making some financial decisions for your engineering company. Examining the financial report of your company, you notice:

. The upgrade of computers and software packages has left your company with a $50,000 balance on a credit card which charges them 10% interest annually.

The profit from the last year, 20,000, has been deposited in a savings account earning 4% annually.

After paying the staff salaries in a few days, there will be only 15,000 in your companys checking account.

Assume that you have no other investment alternatives. If you receive an upfront payment of $5,000 from one of your clients, what do you use it for?

Answer rating: 100% (QA)

In this scenario as a successful entrepreneur and CEO you have several financial considerations to m... View the full answer