Muhammad Yunus is the founder of the Grameen Bank and a recipient of the
Nobel Peace Prize for his work to find solutions to extreme poverty. The Grameen
Bank issues microcredit loans and is the world’s original microlending organization.
Microcredit loans are one way to help people move out of extreme poverty. The
loans involve lending very poor people small amounts of money to start a new
business or to expand an existing one.
Malik wants to open a bicycle repair shop in India. He will need 920 rupees to buy
the tools and equipment necessary to start his business. After that, he will need
1,600 rupees per month to keep his business running.
Complete the table below for Malik’s total costs on your paper,