Business, 23.10.2019 01:50 zariasimone2

Kelly has decided to start his own business giving sailing lessons. to purchase equipment for the business, kelly withdrew $1,000 from his savings account, which was earning 3% interest, and borrowed an additional $2,000 from the bank at an interest rate of 7%. what is kelly's annual opportunity cost (implicit plus explicit costs) of the financial capital that has been invested in the business?

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