It will cost $4,000 to acquire a small ice cream cart. Cart sales are expected to be $3,200 a year for five years. After the fiv
e years, the cart is expected to be worthless as that is the expected remaining life of the cooling system. What is the payback period of the ice cream cart?
A. Commercial banks lend mi way to consumers in the form of car loans, mortgages and personal loans. The money distributed for these loans comes from deposits of other bank customers.
