Multiple Choice
You purchased an automobile two years ago for $10,000. Its current market price is $5,000, and the expected market value one year from now is $4,500. 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) $500
B) $1,000
C) $1,500
D) $5,000
Correct Answer:
Verified
Correct Answer:
Verified
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