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Problem Guitars Galore
Johnny Inneger saved $100 to buy a guitar. Then he bought one for $80. Johnny lost patience learning to play it and decided to sell it to his friend Michael Michael had also saved $100 Michael really wanted the guitar, so he paid Johnny $90 for it. After johnny saw his favorite guitar player in a concert, he wanted to buy back the guitar. He bought it back from Michael for $95. Now Michael has offered Johnny 585 for the guitar. Johnny is deciding whether he will accept the offer. if he does will he have lost any money on the guitar? If so, how much?
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