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Susan is considering buying a 2011 smart fortwo costing

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Susan is considering buying a 2011 Smart ForTwo costing $21,635 and finds that the retaining values of the vehicle over next five years are as follows:

Percent of the total value retained after 36 months: 28%

Percent of the total value retained after 60 months: 17%

If her interest rate is 6% compounded annually, what is the owenership cost of the vehicle over three years? five years?

Reference no: EM13378804

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