II. Pretend that you have P1,000.00 in your piggy bank. Over the weekend, several people want to borrow money from you. Read the stories and decide. а. Your Mom is having a garage sale. She needs cash to make change for the day. She promises to pay you back P1,050.00. You know that she has always paid back her loans. ww b. Your older brother has a business idea, but he doesn't have any money. He wants to borrow your money to buy a lot of bottled water. He plans to put the bottles of water on ice in a cooler and take them to the festival next weekend and try to sell them at a higher price. If he can't sell them all, he plans to save them and sell them the following weekend at another event. Since he isn't sure how long it will take to sell them all, he will promise to pay you back P1,050.00 in four weeks. С. A classmate, whom you don't know very well, wants to borrow your money to buy candies. He plans to sell these candies at a higher price. He believes he can make a lot of money doing this, even though he is not allowed to go out. He promises to pay you back P1, 050.00 in two weeks.

II. Pretend that you have P1,000.00 in your piggy bank. Over the weekend, several people want to borrow money from you. Read the stories and decide. а. Your Mom is having a garage sale. She needs cash to make change for the day. She promises to pay you back P1,050.00. You know that she has always paid back her loans. ww b. Your older brother has a business idea, but he doesn't have any money. He wants to borrow your money to buy a lot of bottled water. He plans to put the bottles of water on ice in a cooler and take them to the festival next weekend and try to sell them at a higher price. If he can't sell them all, he plans to save them and sell them the following weekend at another event. Since he isn't sure how long it will take to sell them all, he will promise to pay you back P1,050.00 in four weeks. С. A classmate, whom you don't know very well, wants to borrow your money to buy candies. He plans to sell these candies at a higher price. He believes he can make a lot of money doing this, even though he is not allowed to go out. He promises to pay you back P1, 050.00 in two weeks.

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter5: Managing Checking And Savings Accounts

Section: Chapter Questions

Problem 7FPC

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