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If the owner earns 8% interest on her investments, determine the equivalent annual cost of owning a car with the following costs (EOY = end
If the owner earns 8% interest on her investments, determine the equivalent annual cost of owning a car with the following costs (EOY = end of year). Initial down payment = exist2200 Annual payments = exist5500, EOY 1-EOY 4 Annual insurance = exist1500, paid EOY Gas & oil & minor maintenance = exist2000, EOY 1, growing exist100 annually each year after Replacement Ores = exist650 at EOY 4 Major maintenance = exist2400 at EOY 5 Salvage value = exist4750 at EOY 6 exist9563 exist7953 exist9032 exist8555
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