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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,

8.00

percent

Property Taxes

:

2.93

percent of vehicle value/year

Sales Taxes

:

3.24

percent of the sales price

Title and Tags

:

$54.21/year

Insurance

:

$1,622.38/year

Maintenance and Usage

:

$1,209.23/year

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