George is going to replace his car in 3 years whenhe
Chapter , Problem 8-10(choose chapter or problem)
George is going to replace his car in 3 years whenhe graduates, but now he needs a radiator repair. Thelocal shop has a used radiator, which will be guaran-teed for 2 years, or they can install a new one, whichis guaranteed for as long as you own the car. Theused radiator is $250 and the new one is $450. IfGeorge assumes the used radiator will last 3 years,but will need to be replaced so he can sell the car,which should he buy?(a)Develop a choice table for interest rates from 0%to 50%.(b)Georges interest rate on his credit card is 20%.What should he do?
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