You Purchased an Automobile Two Years Ago for $10,000

question 20

Multiple Choice

You purchased an automobile two years ago for $10,000. Its current market price is $5,000, and the expected market value one year from now is $4,500. If the interest rate is 10 percent, how much will it cost you to keep the car for an additional year (over and above operation and maintenance costs) ?

• A) $500
• B) $1,000
• C) $1,500
• D) $5,000

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Definitions:

Cultural Blooper

A mistake or faux pas made in a cultural context, often due to a lack of knowledge or understanding.

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Pertaining to the United States of America or its inhabitants.

Asian Job Applicant

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