Insurance is P500 per year. Plan B: Purchase the cars for P6,481 and economic life...
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Insurance is P500 per year. Plan B: Purchase the cars for P6,481 and economic life of three years after which it can be sold for P1,969. Gas and oil cost PO.06 per mile. Plan A: Lease the cars and pay PO.49 per mile. Two plans are available for a company to obtain automobiles for its salesmen. How many miles must the cars be driven each year for the two plans to have the same costs? Use an interest rate of 10%
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