Simple interest formula was used to calculate the principal sum of Rich at the rate of 2.5% for 2 years. Thus Rich's initial deposit was 293 dollars.
<h3>What is Simple interest?</h3>
Simple interest is based on the principal amount of the loan or initial deposit in the savings account.
Following information is given:
Hence, Rich's initial deposit was equal to $293.
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The answer is to determine your own working hours.
Owning you own business allows you the freedom to determine your own working hours.
All you have to do is to supervise and manage your own time. With proper inventory and developing new strategies.
Answer: The correct answers are:
- profits.
- profits.
- costs.
- contract price.
- interest.
Explanation: In a construction contract, if the owner breaches before construction begins, the contractor can receive <u>profits</u>. If the owner breaches during construction, the contractor can recover <u>profits</u> plus <u>costs</u> incurred. If the owner breaches after construction is completed, the contractor can receive the <u>contract price</u> plus <u>interest</u>.