"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?"
"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?"
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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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
986.57
(D) 138.72
(E) 981.99
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