After every eight years, kitty will change her car. the most recent car she bought cost her 80,000 and has a total depreciation of up 60,000 after eight years. to have enough money to purchase a new car with an estimated price of 120,000 after selling her used car, kitty sets up a sinking fund that earns 5% compounded anually.

 find kitty's yearly payment

Answer rating: 100% (QA)

To calculate Kittys yearly payment we need to determine how much money she needs to save each year t... View the full answer