Problem
Sam was in the market for a house when his uncle died and left him $250,000, which is the price of the house he was considering. He could put the money into a long term CD at 4%. If he pays cash for the house, the annual insurance is $3,000 and the taxes are $4,000. What is his opportunity cost per year to buy the house?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.