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 - Page 547: 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.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.