Math

The average monthly payment on a new car is $523. The interest on a car loan is $8469 a year. The average monthly cost of gasoline is $146. Monthly maintenance and repairs is $99. Registration, fees, and taxes are $145 a year. The average cost of auto insurance is $924 per year. The average yearly depreciation is $1115. What is the total cost of car ownership after five years ?

-$99,345

-$57,105

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  1. 5 years = 60 months
    5(8469+145+924+1115) + 60(523+146+99)
    53,265+46,080

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    Damon

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