26 Galveston Place SW

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Micro Economics Problem:

Tim Cole was the contractor who developed Galveston.  We had an opportunity to use the $20,000 in downpayment and purchase a money market that brought in 8% a year.

We also provided our Dodge Grand Caravan to Tim since he needed it to move lumber and tools.

The van was worth $1500 and we could have easily sold it for that much.

Renovating this building took over ten months.  I could have spent the time to work at the library in the evenings and in the weekends and earned $10,000

Our opportunity cost was $10,000 + $1,600 (interest) + $1,500 (van).