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You are purchasing a car. Consider the following information: Retail Cost: $30,000 20% Down Payment. Finance the rest with equal monthly payments. 5-year loan

You are purchasing a car. Consider the following information: Retail Cost: $30,000 20% Down Payment. Finance the rest with equal monthly payments. 5-year loan at 6% Resale value of the car at the end of 5 years is 25% of the original value Personal MARR is 7% Inflation rate is 3% Calculate the Present Worth of Cost of owning this car (express the cost as a positive number). Activate

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