you have the opportunity to purchase a used car in great condition for $14,500. a $2,000 down payment is required to receive 6% interest for 6 years. the car your currently own is in perfect condition but you would like a change. your spouse recommends using the $2,000 to remodel a bathroom in you home. the remodl is estimated to bring the value of your home up by $5,000. determine the interest you will pay on the loan for the car. considering the opportunity cost (value of the next best alternative forgone as the result of making a decision) for the $2,000, what should you do with the money?

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anonymous · Answer

Question is confusing!!! So you want us to the find the loan with the remodel and without it. How long will the remodel take?