You win 10,000 on the EuroMillions lottery draw. You have a choice between spending the money now

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You win €10,000 on the EuroMillions lottery draw. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5 per cent interest. What is the opportunity cost of spending the €10,000 now?

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Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

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Question Posted: Apr 19, 2024 11:00 PM

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You win 10,000 on the EuroMillions lottery draw. You have a choice between spending the money now

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The opportunity cost of spending the 10000 now is the potential interest you would ...View the full answer

Economics

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