Question: A Moving to another question will save this response. Question 7 of 20 >> Question 7 5 points Save Answer John's 8-year-old Chevrolet Trail Blazer

A Moving to another question will save this response. Question 7

A Moving to another question will save this response. Question 7 of 20 >> Question 7 5 points Save Answer John's 8-year-old Chevrolet Trail Blazer requires repairs estimated at $8000 to make it roadworthy again. His wife, Sherry, suggested that he should buy a 5-year-old used Jeep Grand Cherokee instead for $8000 cash. Sherry estimated the following costs for the two cars: Trail Blazer $28.000 $8000 Grand Cherokee $8000 Acquistion cost Repairs Annual operating costs (Gas, maintenance, insurance) $2480 $1900 What should John do? What are his savings in the first year? Fix the Trail Blazer; $7813 Buy the Grand Cherokee; $9900 Fix the Trail Blazer: $4580 Buy the Grand Cherokee; 5580

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