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In: Economics

I have homework on this but I am not sure how to solve it and which...

I have homework on this but I am not sure how to solve it and which formula to use in excel, can u please help me

Rebecca is considering buying a 2019 Genesis G70 costing $37,900 and finds that the retaining values of the vehicle over the next four years are as follows:

Percent of the total value retained after 24 months: 71%
Percent of the total value retained after 48 months: 53%

If her interest rate is 5% compounded annually, what is the ownership cost of the vehicle over 2 years? 4 years?

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Expert Solution

Rahul Sunny answered 2 years ago
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