MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Suppose that a certain car has the following average operating and ownership costs.
Average Costs per Mile
Operating-$0.24
Ownerships-$0.72
Total-$0.96
a. If you drive 30,000 miles per year, what is total annual expense for this car?
b. If the total annual expense for this car is deposited at the end of each year into an IRA paying 7.8% compounded yearly, how much will be saved at the end of eight years?
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