What is the annual cost of operating lawn-care business

Reference no: EM13234134

Suppose you inherit $10,000 and decide to use the money to start a lawn-care business. You purchase a truck and a mower for $10,000 and start mowing lawns. Your annual cost for fuel and other supplies is $2,000. Now, instead of investing your money in the lawn-care business you could have invested the $10,000 in a bank account earning 8 percent annual interest. Additionally, you could have earned $30,000 in another job if you didn't start your own business. So what is your total annual cost (including opportunity cost) of operating your own lawn-care business?

Reference no: EM13234134

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