Multiple Choice
Scott used $4,000,000 from his savings account that paid an annual interest of 5% and a $60,000 loan at an annual interest rate of 5% to purchase a hardware store.After one year,Scott sold the business for $4,100,000. His accounting profits is:
A) $300,000
B) $100,000
C) $97,000
D) $20,000
Correct Answer:
Verified
Correct Answer:
Verified
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