"If you purchase a car from a certain dealership, you expect to have four free oil changes per year during the five years you keep the car. Each oil change would normally cost you $26.49. If you save your money in a mutual fund earning 3.94% per quarter, how much are the oil changes worth to you at the time you buy the car?" (A) 786.62 (B) 478.04 986.57 D) 138.72
"If you purchase a car from a certain dealership, you expect to have four free oil changes per year during the five years you keep the car. Each oil change would normally cost you $26.49. If you save your money in a mutual fund earning 3.94% per quarter, how much are the oil changes worth to you at the time you buy the car?" (A) 786.62 (B) 478.04 986.57 D) 138.72
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 6P
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QUESTION9
!["If you purchase a car from a certain dealership, you expect to have four free oil changes per year during the five years you keep the
car. Each oil change would normally cost you $26.49. If you save your money in a mutual fund earning 3.94% per quarter, how much
are the oil changes worth to you at the time you buy the car?"
A 786.62
B) 478.04
c) 986.57
138.72
E) 981.99](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe40fb13f-814f-4627-86a4-f9453cfd3c65%2F5f21ead4-9a76-47a8-ad24-afae409fa0ef%2F2kj77jj_processed.png&w=3840&q=75)
Transcribed Image Text:"If you purchase a car from a certain dealership, you expect to have four free oil changes per year during the five years you keep the
car. Each oil change would normally cost you $26.49. If you save your money in a mutual fund earning 3.94% per quarter, how much
are the oil changes worth to you at the time you buy the car?"
A 786.62
B) 478.04
c) 986.57
138.72
E) 981.99
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