Jim buys a wedding ring for $10,000. He gets his wife a ring that is twice that much and sells the first one for half its value. How much is he out of pocket? Give me reasons, before answering the question
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The second ring cost 2 * 10000 = $20,000. He sells the first ring for 10,000 / 2 = $5000. So he is out of pocket 10000 - 5000 = $5000. So that means he is out of pocket 20,000 + 5000 = $25,000. So the final answer is 25000.
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