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Julia brings home $2,530 per month after taxes. Julias rent is $563 per month, her utilities are $160 per month, and her car payment is
Julia brings home $2,530 per month after taxes. Julias rent is $563 per month, her utilities are $160 per month, and her car payment is $401 per month. Julia is currently paying $338 per month to her orthodontist for her braces. Julias groceries cost $51 per week and she estimates her other expenses to be $256 per month. As a result, she has $608 left each month to put toward savings to reach her financial goals. Julia is considering trading in her car for a new one. Her new car payment will be $489 per month, and her insurance cost will increase by $95 per month. Julia determines that her other car-related expenses (gas, oil) will stay about the same. What is the opportunity cost if Julia purchases the new car?
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