Determine first-year cost of car ownership for milagros

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Reference no: EM131969405

Determine the total first-year cost of car ownership for Milagros. She just purchased a vehicle valued for 21,550 with the following costs:

Auto Loan: 21,550, duration 4 years, APR, 7.25%

Property taxes: 2.47% percent of vehicle value/year

sales taxes: 2.89% of sales price

title and tags: $47.24

Insurance: 2,275.09 year

Maintenance and usage: 1751.15

The first year cost of ownership for a vehicle purchased for 21,550 is $

Reference no: EM131969405

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