You are a business that makes toys. It costs you $19.20 to make a doll. You the sell the doll for $21. Your turnover is 3 days. You are considering taking a loan that charges 20% per month. Should you take the loan and why? Please share calculations. I believe I know the answer but need clarification so calculations will be helpful.

Answer rating: 100% (QA)

Based on the information provided its likely not beneficial to take the loan with a 20 monthly inter... View the full answer