?The correct answer is $36,767

If the owner earns 8% interest on her investments, determine the present worth (at purchase) of owning a car with the following costs (EOY = end of year). Initial down payment = $2200 Annual payments = $5500. EOY 1-EOY 4 Annual insurance = $1500, paid EOY Gas & oil & minor maintenance = $2000. EOY 1. growing $100 annually each year after Replacement tires = $650 at EOY 4 Major maintenance = $2400 at EOY 5 Salvage value = $4750 at EOY 6 Interest Factor Calculator $39,767 $42,583 $57,317 $39,118