Pat is a rich boy whose parents supply him with every conceivable necessity of life. while still a minor, pat buys a coat on credit from a men's store for $5,000. after wearing the coat for a while, pat decides that it bores him and that he would like to disaffirm. which of the following is most likely to be true? assume that pat is still a minor.

Sauer food company has decided to buy a new computer system with an expected life of three years. the cost is $440,000. the company can borrow $440,000 for three years at 14 percent annual interest or for one year at 12 percent annual interest. assume interest is paid in full at the end of each year. a. how much would sauer food company save in interest over the three-year life of the computer system if the one-year loan is utilized and the loan is rolled over (reborrowed) each year at the same 12 percent rate? compare this to the 14 percent three-year loan.