Question
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 : 2.83 percent of vehicle value/year
Sales Taxes : 4.50 percent of the sales price
Title and Tags : $56.72/year
Insurance : $2,220.78/year
Maintenance and Usage : $1,466.05/year
The first-year cost of ownership for a vehicle valued and purchased for $21,550 is $_____?
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
