Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - 8.6 Cars - Exercise Set 8.6: 15

Answer

Over six years, the total expense for a Cadillac is $\$104,400$ more than the total expense of a Toyota Corolla.

Work Step by Step

We can find the total annual expense for a Cadillac. $expense = (\$0.98~/mi)(30,000~mi) = \$29,400$ We can find the expense for a Cadillac over six years. $expense = (\$29,400/yr)(6~yr) = \$176,400$ We can find the total annual expense for a Toyota Corolla. $expense = (\$0.40~/mi)(30,000~mi) = \$12,000$ We can find the expense for a Toyota Corolla over six years. $expense = (\$12,000~/yr)(6~yr) = \$72,000$ We can find the difference in the expense for the two cars over six years. $\$176,400 - \$72,000 = \$104,400$ Over six years, the total expense for a Cadillac is $\$104,400$ more than the total expense of a Toyota Corolla.
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