Determine the annual equivalent cost for the truck


The initial cost of a pickup truck is $12,859 and will have a salvage value of $4,027 after 5 years. Maintenance is calculated to be a uniform gradient amount of $181 per year, with zero dollars for first year maintenance. The operation cost is estimated to be $0.27 per mile for 331 miles per month. If the interest rate is 12%, calculate the annual equivalent cost for the truck?

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Macroeconomics: Determine the annual equivalent cost for the truck
Reference No:- TGS0872169

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