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An elderly relative offers to sell you their used 1958 Cadillac Eldorado for $54,000 You note that very similar cars are selling on the open market for $87,000. You​ don't care for classic cars and would
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An elderly relative offers to sell you their used 1958 Cadillac Eldorado for $54,000 You note that very similar cars are selling on the open market for $87,000. You​ don't care for classic cars and would rather buy a new Ford Explorer for $31,000. What is the net value of buying the​ Cadillac?

User Damanpreet Singh
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6.1k points

1 Answer

2 votes

Answer:

$33,000

Step-by-step explanation:

Calculation for net value of buying the​ Cadillac

Using this formula

Net value =Purchase-Resale price of the Cadillac

Let plug in the formula

Net value =$87,000-$54,000

Net value =$33,000

Therefore the net value of buying the​ Cadillac will be $33,000

User Kannan Lg
by
5.7k points
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