Your friend is deciding between buying a car to drive for a ride-share company OR leaving their money in a bank account. Buying the car would cost $6,000 and would cost $350 per year in maintenance. Your friend thinks they will earn $1,200 per year from driving. Assuming the car lasts for 6 years and their other option is to leave their money in a bank account that earns. 7% interest rate for the same time period, which one is a better financial decision (using 7% interest rate for any money earned or spent)? Please also write down your calculation on your note sheet for partial credit. Buy the car drive for ride-sharing company "Do nothing.

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Analyzing Car vs Bank Account Option Lets analyze both options to see which one is a better financia... View the full answer