Walter used to work as a high school teacher for $40,000 per year but quit in order to start his own painting business. To invest in his painting business, he withdrew $20,000 from his savings, which paid 3 percent interest, and borrowed $30,000 from his uncle, whom he pays 3 percent interest per year. Last year Walter paid $25,000 for supplies and had revenue of $60,000. Walter asked Tyler the accountant and Greg the economist to calculate his painting business’s costs.

 

Taylor says his costs are?

Greg says his costs are?

Show your calculations for both.

Answer rating: 100% (QA)

To calculate Walters costs for his painting business well consider both Taylors and Gregs perspectiv... View the full answer