Sanford Wants to Start Up His Own Business,and Needs $50,000

Sanford wants to start up his own business,and needs $50,000 to get it off the ground.He can either withdraw it from his savings account,where he currently earns 2 percent,or he can take out a loan for $50,000 and pay 2 percent interest.Sanford should compare:

A) the implicit cost of $1,000 to the explicit cost of $51,000 and choose to use his savings.
B) the implicit cost of $51,000 to the explicit cost of $1,000 and choose to borrow the money.
C) the explicit cost of $1,000 to the implicit cost of $1,000 and realize it will cost the same whether he borrows it or uses his savings for the venture.
D) the explicit cost of $1,000 to the implicit cost of $51,000 and choose to borrow the money.