Business, 22.04.2021 18:40 jakobrobinette

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? A) $170
B) $140
C) $30
D) $300

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Kelly has decided to start his own business giving sailing lessons. To purchase equipment for the bu...

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