If the owner earns 5% interest on her investments, determine the equivalent annual cost of owning a car with the following costs (EOY = end of year). Initial down payment = $2200 Annual payments = $5500, EOY1-EOY4 Prepaid insurance = $1500, growing 8% annually Gas & oil & minor maintenance = $2000, growing 10% annually Replacement tires = $650 at EOY4 & $800 at EOY8 Major maintenance = $2400 at EOY5 Salvage value = $3750 at EOY9 Contributed by Paul R. McCright, University of South Florida