Anya Has Decided to Start Her Own Hair-Styling Salon

question 353

Multiple Choice

Anya has decided to start her own hair-styling salon. To purchase the necessary equipment, Anya withdrew $10,000 from her savings account, which was earning 3% interest, and borrowed an additional $5,000 from the bank at an interest rate of 8%. What is Anya's annual opportunity cost of the financial capital that has been invested in the business?

• A)$300
• B)$400
• C)$700
• D)$1,650

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Definitions:

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