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 : 2.58 percent of vehicle value/year Sales Taxes : 2.02 percent of the sales price Title and Tags : $58.48/year Insurance : $2,376.56/year Maintenance and Usage : $1,328.02/year . Question content area bottom Part 1 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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