What rate ofreturn did engineer make per month

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An entrepreneurial mechanical engineer started a tireshredding business to take advantage of of a Texas state law that outlaws the disposal of whole tires in sanitary landfills. The cost of the shredder was $220,000. She spect $15,000 toget 460-volt power to the site and another $76,000 in sitepreparation. Through contracts with tire dealers, she waspaid $2 per tire and handled an average of 12,000 tires per monthfor 3 years. The annual operating costs for labour, power,repairs, etc. amounted to $1.05 per tire. She also sold someof the tire chips to septic tank installers for use in drainfields. This endeavour netted $2,000 per month. After 3years, she sold the equipment for $100,000. What rate ofreturn did she make (a) per month and (b) per year (nominal andeffective)?

Reference no: EM13243802

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