Question
Suppose that a certain car has the following average operating and ownership costs. Operating $0.24 A= 1+ a. If you drive 20,000 miles per
Suppose that a certain car has the following average operating and ownership costs. Operating $0.24 A= 1+ a. If you drive 20,000 miles per year, what is total annual expense for this car? b. If the total annual expense for this car is deposited at the end of each year into an IRA paying 8.5% compounded yearly, how much will be saved at the end of four years? Use the formula n n LC Average Costs per Mile -1 Ownership $0.68 Total $0.92
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Precalculus
Authors: Michael Sullivan
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321716835, 321716833, 978-0321716835
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