Answer:
To her dad who is an accountant, her cost will be $31,000, but to her mum the economist, her cost will be $47,600
Explanation:
Megan used to earn = $15,000
Withdrawal made = $20,000
This withdrawal would have earned her $1,600 for one year at 8% interest
Expenses recorded = $25,000 for ingredient
Rent = $500 * 12 = $6000 for 1 year
To her dad the accountant, what is recorded as cost or spent is what counts as cost, hence to the accountant;
Accountant (Dad) cost = Cost of ingredient + Cost of rent
= $25,000 + $6,000 = $31,000
To her mum the economist, she put into consideration, the cost of the forgone alternative ($15,000)
She also factors what she would have gain if she did not withdraw the money (the 8% interest) = $1,600
Thus the Economist (Mum) cost = $25,000 + $6,000 + $15,000 + $1,600
= $47,600
