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An $18 000 car will have a scrap value of $500 9 years from the date of purchase.

Using the constant-percentage depreciation method, determine the book value of the car at the end of 4 years.

If money can be invested at j12 = 6%, what is the monthly sinking-fund deposit necessary to replace the car if it is sold for its book value in (a) after 4 years and the price of new cars has increased at an annual rate of j1 = 5%?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92865396

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