What is the equivalent uniform annual cost of the truck

Reference no: EM13209872

Don West is considering buying a pickup truck at a cost of $30,000. After keeping the truck for four years, he is hoping to get $10,000. He estimates that the insurance, property tax, and maintenance costs will be $2,000 in year 1 and gradually increase every year by $1,000. The equivalent uniform annual cost of this truck at 9% interest rate is _____.

Reference no: EM13209872

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