Question: 6 . 1 5 Susan is considering buying a 2 0 1 1 Smart ForTwo costing $ 2 1 , 6 3 5 and finds

6.15 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:
Iii Percent of the total value retained after 36 months: 28%
Ill Percent of the total value retained after 60 months: 17%
If her interest rate is 6% compounded annually, what is the ownership cost of
the vehicle over three years? five years?

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