2. Kevin and Darlene bought a van for $28000. The car depreciated 8% per year. W

2. Kevin and Darlene bought a van for $28000. The car depreciated 8% per year. What is the depreciated value of the van after the first year? The second year? The third year? The forth year? The fifth year? If the insurance premium is $10 per thousand dollar value what are the premiums the first year? The second year? The third year? The forth year? The fifth year? 3. Valerie estimates that a used vehicle will require regular maintenance every 3 months. The average costs for this is $45. The insurance premiums are estimated at $100 per month. She saves $100 per month for tires and unexpected repairs since there is no warranty on the used vehicle. The interest rate is 11% to finance the vehicle. (Interest rates are traditionally higher on used vehicles.) Valerie can afford $400 per month for four years to buy a vehicle. Excluding tax tag and title approximately what is the most Valerie can pay for a vehicle?4. Calculate the estimated monthly and annual expenses for the following vehicle Base price: $25000 Discount: 6% Dealer preparation fee: $250 Destination charges: $500 Additional options: $3500 Down payment: $2500 Interest rate: 9% annually for 5 years Estimated fuel economy: 23 miles per gallon (mpg) Depreciation: 8% per year Insurance Premiums: $100 per $1000 value Regular Maintenance: $125 per event 4 events annually Unexpected repairs: $800 annually Tires: $450 per set every 24 months Average miles driven: 60000 annually 5. Calculate the estimated monthly and annual expenses to own and operate the following vehicle: Base price: $29000 Discount: 7% Dealer preparation fee: $400 Destination charges: $525 Additional option: $2500 Down payment: $3000 Interest rate: 8.5% annually for 5 years Estimate fuel economy: 24 mpg Depreciation: 7% per year Insurance Premiums: $100 per $1000 value Regular Maintenance: $175 per event 4 events annually Unexpected repairs: $750 annually Tires: $500 per set every 24 months Average miles driven: 75000 annually