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Name: ought a $10,000 car to make an extra cash by becoming a part time Uber or Lyft driver. He estimated that he would be
Name: ought a $10,000 car to make an extra cash by becoming a part time Uber or Lyft driver. He estimated that he would be driving about 5 miles per trip, and he plans to make 30 trips in a month. Since Tom will be driving only one car, the gas and maintenance costs will be the s, he came out with same if he drives for either Uber or Lyft. After factoring ali possible cost an estimated net income for both companies as: Lyft s 4,500 (first 2 years) $5,500 (third year onwards) Uber Net Income per year 5,000 (a) Determine which option has a shorter payback period at 10% per year. (b) Using the same interest rate, determine which option is more beneficial 5 years from now (n-5).(e) Does the result in Part B correspond with your choice in Part A? Explain the reason for difference, if any
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