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Determine the total first-year cost of car ownership for Milagros. She just purchased a vehicle valued for $21,550 with the following costs: Auto Loan :

Determine the total first-year cost of car ownership for Milagros. She just purchased a vehicle valued for

$21,550

with the following costs:

Auto Loan

: Amount,

$21,550;

Duration, 4 years; APR,

7.50

percent

Property Taxes

:

1.59

percent of vehicle value/year

Sales Taxes

:

1.95

percent of the sales price

Title and Tags

:

$55.53/year

Insurance

:

$2,072.63/year

Maintenance and Usage

:

$1,790.97/year

The first-year cost of ownership for a vehicle valued and purchased for $21,550 is $ . (Round to the nearest cent.)

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