Marc bought a new car last year for $10,000.He can now sell the car for $8,500.To buy this year's model of the same car he would have to pay $11,000.What is the implicit rental rate using the car for one year at a zero percent interest rate?
A)$2,500
B)$3,500
C)$1,000
D)$10,000
E)$1,500

Question

Quizplus · Accepted Answer

The Answer of Marc bought a new car last year for $10,000.He can now sell the car for $8,500.To buy this year's model of the same car he would have to pay $11,000.What is the implicit rental rate using the car for one year at a zero percent interest rate?
A)$2,500
B)$3,500
C)$1,000
D)$10,000
E)$1,500

Marc Bought a New Car Last Year for $10,000