Based on the information in Table 3,what is Thompson's projected cumulative borrowing as of March 1,2014?
A)$85,000
B)$45,000
C)$70,000
D)- 0 -

Question

Quizplus · Accepted Answer

According to Table 3, Thompson's cumulative borrowing increases by $25,000 every quarter. From December 1, 2013 to March 1, 2014, there are 2 quarters, meaning the cumulative borrowing increases by $50,000. Therefore, Thompson's projected cumulative borrowing as of March 1, 2014 would be $70,000 (starting cumulative borrowing of $20,000 + $50,000 increase).

Based on the Information in Table 3,what Is Thompson's Projected