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A car is financed as follows: $2,000 as downpayment plus equal monthly payments at 8% annual interest rate compounded monthly for 3 years. Original price
A car is financed as follows: $2,000 as downpayment plus equal monthly payments at 8% annual interest rate compounded monthly for 3 years. Original price of the car was $10, 500. It is expected that maintenance costs are going to be $500 in the first year increasing by $400 every year thereafter. Define the annual worth of this investment
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