Mateo values his camper at $4,000, and Nicole values it at $9,000. If Nicole buys it from Mateo for $7,000, which of the following is true?
A) Mateo gains $3,000 of value, and Nicole gains $2,000 of value.
B) Mateo gains $7,000 of value, and Nicole loses $7,000 of value.
C) Mateo gains $7,000 of value, and Nicole gains $6,000 of value.
D) Mateo and Nicole both gain $7,000 of value.

Question

Quizplus · Accepted Answer

Mateo gains $3,000 because he values the camper at $4,000 and sells it for $7,000. Nicole gains $2,000 because she values the camper at $9,000 and buys it for $7,000.

Mateo Values His Camper at $4,000, and Nicole Values It