Reimbursement rate per mile so that you can break even

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Reference no: EM131590771

You are considering to invest exist11,000 in a vehicle which is expected to last 3 years with a salvage value of exist4, 800. The annual operating and maintenance costs for the vehicle for year 1, 2, and 3 are expected to be exist1801, exist1848, and exist1876 respectively. If the expected miles driven on the vehicle during year 1, 2, and 3 are 14, 500, 13,000, and 11, 500 respectively, and the interest rate is 7% what should he your reimbursement rate per mile so that you can break even?

Reference no: EM131590771

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