CASE STUDY – CRITICAL THINKING
When her husband died, YOLANDA was left with three cars: a sedan, a truck, and a 5-year-old jeep. Yolanda decided to sell them all and buy one new car.
To Yolanda, these cars had more sentimental value than monetary value, especially since her husband had left her with plenty of money. She wanted to make sure each vehicle would go to someone her husband would have liked, so she planned to interview prospective customers until she was satisfied the cars would "go to a good home." A family friend, VINCE, volunteered to help Yolanda. He passed the word around to his friends, and one by one people bought the vehicles
The sedan was bought by MONICA, a struggling community college student who worked part-time. Her brother lent her the money, and he told her to take her time paying him back. However, she was eager to rid herself of debt, so she took on extra hours at work even though her grades suffered as a result.
FRANK, a firefighter, bought the truck. He did odd jobs in construction during his free time between shifts at the firehouse. He liked to volunteer for Habitat for Humanity and other groups that helped folks in the community. He paid cash because he had received a bonus for an outstanding act of heroism in the line of duty. It seemed like a good way to use the money.
MADELINE and PHIL bought the jeep. They already had two cars, a fairly new Cadillac Seville and a Lexus. However, Madeline was a Girl Scout leader, and she wanted the jeep for camping trips.
A week later, Monica decided to give her car a good cleaning. When she removed the floor mats to vacuum, she found a $100 bill. She called Vince to report her discovery, and he said, "Oh, just keep it. Yolanda's husband was famous for hiding money in odd places. He had plenty of it, but he didn't completely trust banks because of what his family lost during the Depression, so he’d squirrel it away for emergencies. Yolanda doesn't need it, and you can give it...
Please join StudyMode to read the full document