Business, 02.04.2020 01:55, jordenlehman

A foreign exchange student bought a used car for $10,000 and resold it one year later for $6,500. Insurance, license, and operating costs for the year were $1,500. What was his economic cost of owning and operating the car for the year if the market rate of interest was 10 percent?

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A foreign exchange student bought a used car for $10,000 and resold it one year later for $6,500. In...