Determine the total first-year cost of car ownership for Milagros. She just purchased a vehicle valued...
Determine the total first-year cost of car ownership for Milagros. She just purchased a vehicle valued for $21550 with the following costs: Auto Loan : Amount, $21550; Duration, 4 years; APR, 8.00 percent Property Taxes : 2.10 percent of vehicle value/year Sales Taxes : 2.57 percent of the sales price Title and Tags : $23.84/year Insurance : $1889.65/year Maintenance and Usage : $1571.02/year
The first-year cost of ownership for a vehicle valued and purchased for $21550 is $
Homework Answers
| Interest on loan = 8%*21550 | 1724.00 |
| Property Taxes = 2.10%*21550 | 452.55 |
| Sales Taxes :=2.57%*21550 | 553.84 |
| Title and Tags : $23.84/year | 23.84 |
| Insurance : $1889.65/year | 1889.65 |
| Maintenance and Usage : $1571.02/year | 1571.02 |
| Total cost | 6214.90 |
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Determine the total first-year cost of car ownership for
Milagros. She just purchased a vehicle valued...
Determine the total first-year cost of car ownership for Milagros. She just purchased a vehicle valued...
Determine the total first-year cost of car ownership for Milagros. She just purchased a vehicle valued for $21 comma 55021,550 with the following costs: Auto Loan : Amount, $21,550; Duration, 4 years; APR, 8.25 percent Property Taxes : 1.80 percent of vehicle value/year Sales Taxes : 4.31 percent of the sales price Title and Tags : $32.81/year Insurance : $2,247.58/year Maintenance and Usage : $1.52/year
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