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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,8.25 percent |
Property Taxes | : 1.75 percent of vehicle value/year |
Sales Taxes | : 4.25 percent of the sales price |
Title and Tags | : $34.55/year |
Insurance | : $1,996.72/year |
Maintenance and Usage | : $1,221.31/year |
The first-year cost of ownership for a vehicle valued and purchased for $21,550 is
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