You are buying a refrigerator and have narrowed it down to two options. Option 1 costs $1,100 and costs $106/year to run. Option 2 costs $900 and costs $144/ year to run. Both options will last 20
years. Your money is currently earning 5.0%. Which option offers you the best deal?

Answer rating: 100% (QA)

To determine which option offers you the best deal we need to consider the total cost of each option ... View the full answer