Edward Uses $10,000 from His Savings (Earning 5% Interest) to Open

question 96

Multiple Choice

Edward uses $10,000 from his savings (earning 5% interest) to open his business. After the first year, Edward incurs a loss of $15,000, which includes the interest that was lost when he withdrew funds from savings. His economic loss is:

• A) $5,000.
• B) $10,000.
• C) $14,500.
• D) $15,000.

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