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Let’s imagine that you want to open your lemonade stand this summer. So you go and borrow $1,000 to help with initial costs. You borrow at an annual interest rate of 5%, so your yearly interest expense is $50. You will love to know that interest expense is tax deductible
Imagine this, you decided to refit your shower. You estimated the cost of refitting to be around $2,000, this is what you are willing to pay. So you contacted a few companies and they quoted you with $1,500. At the end you chose a company that quoted $1,500 and you
Imagine you own a bakery that makes cakes. To bake sweet treats, you need different ingredients. These include flour, sugar, eggs, electricity for the oven, etc. The costs vary depending on how many cakes you decide to make. In the economic jargon, these are called variable costs, and they change
I bet that at some point, you have heard someone say that the house is an appreciating asset. You may even have been the one to tell your friends and family this. But what does it mean, and how can we calculate appreciation? The good news is that you have
You are running a lemonade stand, but it’s cloudy and windy, so you are struggling to sell your zingy lemonade. After some thought, you come to the natural conclusion that to increase demand, you need to lower the price. This is where the markdown enters the stage, and more importantly,
Imagine a hot summer day. You are trying to spend time with your kids and teach them something about business. What a great idea to make a lemonade stand. You decide to sell lemonade for $1 per cup. The sales go really well, and the kids are having fun. As
You just hit the road for your trip across the countryside; all is great. I’m Gonna Be (500 Miles) is playing on your radio (Hello HIMYM fans). Kids are tired of the song, and life couldn’t get any better. Until you hear a cracking noise from the engine, and a
Being a European, I am used to seeing all the display prices in stores with VAT. You see the price, and you know it’s final. When I first came to the US, I got caught at the checkout when my receipt was higher than displayed on the shelf. Oh, the
You decided to become a professional gardener on a beautiful Saturday morning. So you left your house, went to your garden, and started working. You are proud of the soil bed you built for your plants, but now you need to fill it with soil. But wait, how much of
Picture yourself running a lemonade stand on a scorching summer day. You’ve got your table set up, lemons freshly squeezed, and a line of thirsty customers eagerly awaiting your refreshing concoction. But as the day progresses and demand fluctuates, have you ever stopped to think about the cost of squeezing
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