Develop a choice table for interest rates

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Reference no: EM131808939

George is going to replace his car in 3 years when he graduates, but now he needs a radiator repair. The local shop has a used radiator, which will be guaranteed for 2 years, or they can install a new one, which is "guaranteed for as long as you own the car." The used radiator is $250 and the new one is $450. If George assumes the used radiator will last 3 years, but will need to be replaced so he can sell the car, which should he buy?

(a) Develop a choice table for interest rates from 0% to 50%.

(b) George's interest rate on his credit card is 20%. What should he do?

Reference no: EM131808939

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