Answered

Welcome to Westonci.ca, your ultimate destination for finding answers to a wide range of questions from experts. Get immediate and reliable solutions to your questions from a knowledgeable community of professionals on our platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

Samantha has been working for a law firm and earning an annual salary of $80,000. She decides to open her own practice. Her annual expenses will include $15,000 for office rent, $3,000 for equipment rental, $1,000 for supplies, $1,200 for utilities, and a $35,000 salary for a secretary/bookkeeper. Samantha will cover her start-up expenses by cashing in a $20,000 certificate of deposit on which she was earning annual interest of $500.