a-business-owner-uses-50000-from-personal-savings-to-fund-a-new-venture-the-savi

Question

A business owner uses $50,000 from personal savings to fund a new venture. The savings account had an interest rate of 5%. What is the implicit cost of using these savings?

Accepted Answer

$2,500

Answer

$50,000

Answer

$0

Answer

$5,000

A business owner uses \$50,000 from personal savings to fund a new venture. The savings account had an interest rate of 5%. What is the implicit cost of using these savings?