frankies weekly budget includes a long - term goal of purchasing a car. he is saving $15 a week toward that…

frankies weekly budget includes a long - term goal of purchasing a car. he is saving $15 a week toward that goal. he is considering saving up his money to purchase his grandmothers older car. frankie knows his grandmother has maintained the car and it is in good condition. she is also giving him a greatly discounted price of $800. what should frankie consider before buying the car? check all that apply. what he will be giving up if he spends $800 on the car the cost to maintain (oil, tires, gas, brakes) and insure the car how many of his friends have cars his short - and long - term financial goals if an alternate mode of transportation, such as a bicycle or the bus, is sufficient for his needs

frankies weekly budget includes a long - term goal of purchasing a car. he is saving $15 a week toward that goal. he is considering saving up his money to purchase his grandmothers older car. frankie knows his grandmother has maintained the car and it is in good condition. she is also giving him a greatly discounted price of $800. what should frankie consider before buying the car? check all that apply. what he will be giving up if he spends $800 on the car the cost to maintain (oil, tires, gas, brakes) and insure the car how many of his friends have cars his short - and long - term financial goals if an alternate mode of transportation, such as a bicycle or the bus, is sufficient for his needs

Answer

Brief Explanations:

  • Opportunity - cost: He should consider what he gives up by spending $800.
  • Operating costs: Maintenance and insurance are ongoing expenses.
  • Financial goals: Align with short - and long - term plans.
  • Alternatives: See if other transport suffices. The number of friends with cars is irrelevant.

Answer:

  • what he will be giving up if he spends $800 on the car
  • the cost to maintain (oil, tires, gas, brakes) and insure the car
  • his short - and long - term financial goals
  • if an alternate mode of transportation, such as a bicycle or the bus, is sufficient for his needs