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Business, 31.10.2019 02:31 neisha2507

You purchase a car that has an initial cost of $30,000. property tax on the car will be $500 when you purchase the car and will decrease by 5% per year because the county estimates that the tax value will depreciate. fuel cost in the first year is $1,050 and is estimated to increase by $125 per year because of expected increases in fuel cost. the cost to insure this car with you as the driver is estimated to be $1,500 in the first year, and to decrease by 10% per year as the car loses value and as you age into a less risky driver category. maintenance and repair costs are expected to be $100 in the first year, and to increase by fall 2019 ce 250 module 3 $150 per year. at the end of 10 years, you plan to sell the car and expect that you can get $5,000 as the salvage value. the interest rate is 7%, compounded annually. a) what is the equivalent annual cost of the purchase price of the car ($/year)? b) what is the equivalent annual cost of the property tax on the car ($/year)? c) what is the equivalent annual fuel cost ($/year)? d)what is the equivalent annual insurance cost ($/year)? e) what is the equivalent annual maintenance and repair cost ($/year)? f) what is the equivalent annual salvage value ($/year)? g) suppose that the equivalent uniform annual cost is $7,000 per year (this is not the correct answer to a previous part), and the vehicle is driven 15,000 miles per year. what is the average cost per mile ($/mile)?

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