How much cost to keep the car for an additional year, Microeconomics

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How much cost to keep the car for an additional year

You purchased an automobile a year ago for $10,000. Its current market price is $6,000, and the expected market value one year from now is $4,000. If the interest rate is 10 percent, how much will it cost you to keep the car for an additional year (over and above operation and maintenance costs)?

a. $2,000
b. $2,600
c. $4,000
d. $6,000

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Microeconomics: How much cost to keep the car for an additional year

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Microeconomics: How much cost to keep the car for an additional year

Reference No:- TGS038269

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Risk-free hedge portfolio

Q : What to conclude when consumes only hot dogs and colas

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Ask an Expert for Answer!!

Microeconomics: How much cost to keep the car for an additional year

Reference No:- TGS038269

Recent Questions Asked Microeconomics

Q : Risk-free hedge portfolio

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