Comparing two car purchase proposals
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Based on financial and opportunity costs, which of the following do you believe would be the wiser purchase?
Vehicle 1: A 3 year old car with 45,000 miles, costing $6,700, and requiring $385 of immediate repairs.
Vehicle 2: A 5 year old car with 62,000 miles, costing $4,500, and requiring $760 of immediate repairs.
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Solution Summary
This solution compares two proposals for a car purchase.
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Solution:
Current Cost of Vehicle1 = 6700+385=$7085
Current Cost of Vehicle2 = 4500+760=$5260
If we look at the current financial costs only, Vehicle 2 is preferable as ...
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- BEng (Hons) , Birla Institute of Technology and Science, India
- MSc (Hons) , Birla Institute of Technology and Science, India
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