Question
Mary uses funds from a savings account to pay off his equipment loan. The interest rate Mary pays on the equipment loan is greater than
Mary uses funds from a savings account to pay off his equipment loan. The interest rate Mary pays on the equipment loan is greater than the interest rate he can earn on the savings account (3%).John's accounting profit _____ and his economic profit _______.
Stays the same, stays the same
Rises, rises
Rises, stays the same
Stays the same, rises
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
4th Canadian edition
134724712, 134724713, 9780134779782 , 978-0134724713
