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What is the opportunity cost of a checking account that requires a $500 minimum balance to avoid service charges? Assume an interest rate of 4%.

If you earn a 9% return on your savings and are in the 28% tax bracket, what is your after-tax savings rate?

Using the following information, what is the cost to buy a car?

• Down payment $2000

• Monthly loan payment ($300 per month for a 5-year loan)

• Opportunity cost of down payment ($2000 ´ loan period (in years) ´ 2% interest)

• Estimated value of vehicle at end of ownership period ($2,000)

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M941866

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