CNBC reported that one in five consumers who purchase bitcoin do so using their credit card. Melissa Gamez purchased a used RV with 19,100 miles for $47,000. Originally the RV sold for $70,500 with a residual value of $20,100. After subtracting the residual value, depreciation allowance per mile was $0.87. How much was Melissa's purchase price over or below the book value? (Input the amount as positive value.)
CNBC reported that one in five consumers who purchase bitcoin do so using their credit card. Melissa Gamez purchased a used RV with 19,100 miles for $47,000. Originally the RV sold for $70,500 with a residual value of $20,100. After subtracting the residual value, depreciation allowance per mile was $0.87. How much was Melissa's purchase price over or below the book value? (Input the amount as positive value.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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CNBC reported that one in five consumers who purchase bitcoin do so using their credit card. Melissa Gamez purchased a used RV
with 19,100 miles for $47,000. Originally the RV sold for $70,500 with a residual value of $20,100. After subtracting the residual value,
depreciation allowance per mile was $0.87.
How much was Melissa's purchase price over or below the book value? (Input the amount as positive value.)
Purchase price was
the book value by
Does she have any equity that might assist her with purchasing bitcoin?
O Yes
O No
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