Question

A college student has been looking for a new tires. The student feels that the warranty period is a good estimate of the tire life and that 10% interest rate is appropriate. Given 4 options find the minimum Equivalent Uniform Monthly Cost. (Note: the student wants to buy 4 tires)

Hint use i/12 for computing the annual costs.

Warranty time (months)	Tire price (all 4 tires)
12	35
24	60
36	70
48	94

Margin of error: +/- 0.1

Answer 1

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