Question

Jean earns $4500 monthly income. Her rent is $950.00 per month, her other bills are $250.00 per month, and her car loan requires a $480 per month. a) If Jeans' food costs $150 per week and she estimates other additional expenses to be $250 per month, how much she will have left each month to reach her financial goals? b) Mia is considering buying a new car instead of the old one. Her new car loan will be $560 per month, and the insurance will increase by $250 per month. Jean estimates that her other-related expenses will remain the same. What is the opportunity cost if Mia purchases the new car? (Show your calculations)

Answer 1

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