{"id":4063,"date":"2023-06-05T19:00:59","date_gmt":"2023-06-05T19:00:59","guid":{"rendered":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/?post_type=chapter&#038;p=4063"},"modified":"2024-11-19T21:17:10","modified_gmt":"2024-11-19T21:17:10","slug":"cars-learn-it-5","status":"web-only","type":"chapter","link":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/chapter\/cars-learn-it-5\/","title":{"raw":"Cars: Learn It 5","rendered":"Cars: Learn It 5"},"content":{"raw":"<h2>Understanding the True Cost of Owning a Car<\/h2>\r\n<p>When considering car ownership, it's essential to look beyond just the purchase price. The ongoing costs associated with operating a car, such as insurance, gas mileage, fuel costs, and maintenance expenses, can significantly impact the total cost of ownership.<\/p>\r\n<h3>Car Insurance<\/h3>\r\n<p>Whether your car is leased or owned, you do need insurance. The cost of insurance should be accounted for when evaluating the affordability of buying or leasing a car. Car insurance is meant to cover costs associated with accidents involving cars.\u00a0<\/p>\r\n<section class=\"textbox proTip\">\r\n<p>Most states (all except New Hampshire) require some insurance. Without insurance, the state may not let you get a license for your car or register your car. Your state\u2019s requirements can be hard to follow.<\/p>\r\n<\/section>\r\n<p>Fortunately, insurance companies and brokers will make sure your insurance is sufficient for your state and will warn you if you try to not meet the requirements. Of course, they may offer more than what is sufficient, so it is your responsibility to determine how much coverage you want, as long as the minimum insurance requirements are met.\u00a0<\/p>\r\n<p>Leasing or owning makes no difference to the insurance company you choose, because they are insuring you based on what you are driving, your driving record, and other information about you including where you live and your age. These insurance policies have many components that address different costs that can come from auto accidents. This may make details confusing, and you may not realize what you are paying for until you must use it.<\/p>\r\n<p>Here is a brief outline of the different components of auto insurance, many of which are required by the state that issues your driver\u2019s license.<\/p>\r\n<ul>\r\n\t<li><strong>Liability insurance<\/strong> is mandatory coverage in most states. Liability insurance covers property damage and injuries to others should you be found legally responsible for an accident. You are required to have the minimum amount of coverage, as determined by your state, in both areas.<\/li>\r\n\t<li><strong>Collision insurance<\/strong> is insurance covering the damage caused to your car if involved in an accident with another vehicle.<\/li>\r\n\t<li><strong>Comprehensive insurance<\/strong> is an extra level of coverage if involved in an accident with another vehicle and covers other things like theft, vandalism, fire, or weather events as outlined in your policy. There is a deductible assigned to each type of insurance, an amount that you pay out of pocket before your comprehensive coverage takes effect. Comprehensive insurance is often required if you lease or finance the purchase of a vehicle.<\/li>\r\n\t<li><strong>Uninsured or underinsured motorist insurance<\/strong>: If you are hit by an uninsured or underinsured motorist, this insurance will help pay medical bills and damage to your car.<\/li>\r\n\t<li><strong>Medical payments insurance<\/strong> is mandatory in some states and helps pay for medical costs associated with an accident, regardless of who is at fault.<\/li>\r\n\t<li><strong>Personal injury protection insurance<\/strong> is coverage for certain medical bills and other expenses due to a car accident. Other covered expenses may include loss of income or childcare, depending on your policy.<\/li>\r\n\t<li><strong>Gap insurance <\/strong>is designed to cover the gap between what is owed on the car and what the car is worth in the event your car is a total loss.<\/li>\r\n\t<li><strong>Rental reimbursement insurance<\/strong> is coverage for a rental car while your car is under repair resulting from an accident.<\/li>\r\n<\/ul>\r\n<p>You can also purchase other special insurance policies, such as classic car insurance, new car replacement insurance, and sound system replacement insurance, to name a few. It is important that you determine exactly what you need, as insurance policies can be expensive and vary according to your age, driving history, and where you live.<\/p>\r\n<section class=\"textbox example\">\r\n<ol style=\"list-style-type: decimal;\">\r\n\t<li>Which component of insurance pays if you are in an accident with a motorist without insurance?<\/li>\r\n\t<li>Which component of insurance pays for the remaining principal owed on your car in the case of a total loss?<\/li>\r\n<\/ol>\r\n<p>[reveal-answer q=\"160936\"]Show Solution[\/reveal-answer]<br \/>\r\n[hidden-answer a=\"160936\"]<\/p>\r\n<ol style=\"list-style-type: decimal;\">\r\n\t<li>Uninsured motorist insurance covers accidents with those who have no insurance.<\/li>\r\n\t<li>Gap insurance will cover the gap between what is owed on the car and what it is worth if an accident results in a total loss.<\/li>\r\n<\/ol>\r\n<p>[\/hidden-answer]<\/p>\r\n<\/section>\r\n<section class=\"textbox example\">If your car payment is [latex]$287.50[\/latex] per month and your car insurance is [latex]$930[\/latex] every [latex]6[\/latex] months, what is the cost of the car per month when accounting for the insurance?[reveal-answer q=\"160931\"]Show Solution[\/reveal-answer]<br \/>\r\n[hidden-answer a=\"160931\"]<br \/>\r\nThe cost of the car including insurance is the monthly payment, [latex]$287.50[\/latex], plus the monthly cost of the insurance. The insurance cost per month is [latex]\\frac{$930}{6}=$155[\/latex] since the insurance cost is for every [latex]6[\/latex] months. Adding those the cost with insurance is [latex]$442.50[\/latex].<br \/>\r\n[\/hidden-answer]<\/section>\r\n<h3>Maintaining a Car<\/h3>\r\n<p>Cars are not a buy it and forget it item. They require upkeep, which adds to the cost of owning the car.<\/p>\r\n<p>When thinking about maintaining a car we all know we have to pay for gas but there are other costs you might not be considering. Beyond fuel, maintaining a car involves additional costs, such as replacing tires, brakes, oil, and wipers. Furthermore, some states mandate annual vehicle inspections which comes at an additional fee.<\/p>\r\n<p>Below is a list of some maintenance requirements for cars, along with cost and roughly how often they should happen.<\/p>\r\n<table>\r\n<tbody>\r\n<tr>\r\n<th>Maintenance<\/th>\r\n<th>Frequency<\/th>\r\n<th>Cost Range<\/th>\r\n<\/tr>\r\n<tr>\r\n<td>New Tires<\/td>\r\n<td>Every [latex]3-5[\/latex] years<\/td>\r\n<td>[latex]$50\u2013$300+[\/latex] per tire<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Oil Change<\/td>\r\n<td>Every [latex]3,000\u20136,000[\/latex] miles<\/td>\r\n<td>[latex]$35\u2013$75+[\/latex]<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Wipers<\/td>\r\n<td>Every [latex]6\u201312[\/latex] months<\/td>\r\n<td>[latex]$20\u2013$40[\/latex]<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Inspection<\/td>\r\n<td>Annual<\/td>\r\n<td>[latex]$10\u2013$50[\/latex]<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Brake pads<\/td>\r\n<td>[latex]10,000\u201320,000[\/latex] miles<\/td>\r\n<td>[latex]$200\u2013$300[\/latex]<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Air Filter<\/td>\r\n<td>[latex]15,000\u201330,000[\/latex] miles<\/td>\r\n<td>[latex]$35\u2013$80[\/latex]<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<p>&nbsp;<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>When designing a budget, these expected costs should be accounted for. Extra money per month should be saved in addition to this budget category, to handle unanticipated, and perhaps very costly, repairs.<\/p>\r\n<section class=\"textbox example\">Estella needs to budget for her car maintenance. She expects to buy new tires every [latex]5[\/latex] years, which will cost her [latex]$480[\/latex] to replace them all. Oil changes near her cost [latex]$49.99[\/latex], and she believes she will get one every [latex]4[\/latex] months. Her inspection costs [latex]$15[\/latex] per year. Wipers for her car cost [latex]$95[\/latex] for all three and she anticipates changing them every year. She drives less than [latex]30,000[\/latex] miles per year, so she plans to replace the air filter once per year. The air filter for her car costs [latex]$57.50[\/latex]. How much should she budget per month to cover these costs?<br \/>\r\n[reveal-answer q=\"160939\"]Show Solution[\/reveal-answer]<br \/>\r\n[hidden-answer a=\"160939\"]<br \/>\r\nHer yearly costs are the wipers, inspection, and airfilter, which total [latex]$167.50[\/latex]. Tires will be bought every [latex]5[\/latex] years, so per year she should budget [latex]$96[\/latex]. Her oil changes, which will happen three times per year, cost [latex]$49.99[\/latex] each, so she\u2019ll spend [latex]$149.97[\/latex] for the year on oil changes. Adding these up, her yearly budget should include [latex]$413.47[\/latex] for maintenance. Dividing by [latex]12[\/latex] gives the monthly budget for maintenance, which is [latex]$34.46[\/latex] (rounded up to the next penny).<br \/>\r\n[\/hidden-answer]<\/section>\r\n<h3>Fuel Costs<\/h3>\r\n<p>Fuel efficiency, often referred to as gas mileage, is a measurement of how far a vehicle can travel on a specific amount of fuel, typically measured in miles per gallon (MPG) in the United States. The more efficient a vehicle is, the less fuel it uses to travel a particular distance, leading to lower fuel costs over time.<\/p>\r\n<section class=\"textbox example\">\r\n<p>The impact of fuel efficiency on your wallet becomes clearer when you consider the amount of driving you do. For example, let's say you drive [latex]12,000[\/latex] miles per year. If your car gets [latex]25[\/latex] MPG, you'll need to buy [latex]480[\/latex] gallons of gas per year. However, if your car gets [latex]35[\/latex] MPG, you'll only need about [latex]343[\/latex] gallons of gas. That's a saving of around [latex]137[\/latex] gallons of gas per year, just by choosing a more fuel-efficient car!<\/p>\r\n<\/section>\r\n<p>Several factors can influence a car's fuel efficiency. Some of these are inherent to the vehicle itself, such as its size, weight, and engine type. Others are influenced by how and where you drive. City driving with lots of stop-and-go traffic can lower fuel efficiency, as can carrying heavy loads or using roof racks, which increase wind resistance.<\/p>\r\n<p>When buying a car, you'll often see an EPA (Environmental Protection Agency) rating for fuel efficiency. This rating gives an estimated MPG for city driving, highway driving, and a combined average. These numbers can be helpful when comparing different cars, but remember, your actual MPG may vary based on your specific driving conditions and habits.<\/p>\r\n<p>Once you know your car's typical MPG you can calculate your annual fuel cost.<\/p>\r\n<section class=\"textbox keyTakeaway\">\r\n<div>\r\n<h3>annual fuel cost<\/h3>\r\n<center>[latex]\\text{ annual fuel cost } = \\frac{\\text{miles driven annually}}{\\text{miles per gallon}} \\times \\text{ price per gallon of gas}[\/latex]<\/center><\/div>\r\n<\/section>\r\n<section class=\"textbox example\">If you drive [latex]15,000[\/latex] miles per year and gas costs [latex]$3.75[\/latex] per gallon, how much would you spend on gas in a year with a car that gets an average of [latex]25[\/latex] MPG versus a car that gets an average of [latex]35[\/latex] MPG?[reveal-answer q=\"160932\"]Show Solution[\/reveal-answer]<br \/>\r\n[hidden-answer a=\"160932\"]<br \/>\r\nFirst, let's calculate how many gallons of gas you would use per year for each car:\r\n\r\n<ul>\r\n\t<li>For the car that gets [latex]25[\/latex] MPG: [latex]15,000[\/latex] miles [latex]\u00f7 25[\/latex] MPG [latex]= 600[\/latex] gallons per year<\/li>\r\n\t<li>For the car that gets [latex]35[\/latex] MPG: [latex]15,000[\/latex] miles [latex]\u00f7 35[\/latex] MPG [latex]\\approx 429[\/latex] gallons per year<\/li>\r\n<\/ul>\r\n<p>Next, we'll calculate the annual cost of gas for each car:<\/p>\r\n<ul>\r\n\t<li>For the car that gets [latex]25[\/latex] MPG: [latex]600[\/latex] gallons [latex]\\times $3.75[\/latex] per gallon [latex]= $2,250[\/latex]<\/li>\r\n\t<li>For the car that gets [latex]35[\/latex] MPG: [latex]429[\/latex] gallons [latex]\\times $3.75[\/latex] per gallon [latex]\\approx $1,609[\/latex]<\/li>\r\n<\/ul>\r\n<br \/>\r\n<p>So, if you chose the car that gets [latex]35[\/latex] MPG over the one that gets [latex]25[\/latex] MPG, you would save about [latex]$641[\/latex] in gas costs per year given the stated conditions.<\/p>\r\n\r\n[\/hidden-answer]<\/section>","rendered":"<h2>Understanding the True Cost of Owning a Car<\/h2>\n<p>When considering car ownership, it&#8217;s essential to look beyond just the purchase price. The ongoing costs associated with operating a car, such as insurance, gas mileage, fuel costs, and maintenance expenses, can significantly impact the total cost of ownership.<\/p>\n<h3>Car Insurance<\/h3>\n<p>Whether your car is leased or owned, you do need insurance. The cost of insurance should be accounted for when evaluating the affordability of buying or leasing a car. Car insurance is meant to cover costs associated with accidents involving cars.\u00a0<\/p>\n<section class=\"textbox proTip\">\n<p>Most states (all except New Hampshire) require some insurance. Without insurance, the state may not let you get a license for your car or register your car. Your state\u2019s requirements can be hard to follow.<\/p>\n<\/section>\n<p>Fortunately, insurance companies and brokers will make sure your insurance is sufficient for your state and will warn you if you try to not meet the requirements. Of course, they may offer more than what is sufficient, so it is your responsibility to determine how much coverage you want, as long as the minimum insurance requirements are met.\u00a0<\/p>\n<p>Leasing or owning makes no difference to the insurance company you choose, because they are insuring you based on what you are driving, your driving record, and other information about you including where you live and your age. These insurance policies have many components that address different costs that can come from auto accidents. This may make details confusing, and you may not realize what you are paying for until you must use it.<\/p>\n<p>Here is a brief outline of the different components of auto insurance, many of which are required by the state that issues your driver\u2019s license.<\/p>\n<ul>\n<li><strong>Liability insurance<\/strong> is mandatory coverage in most states. Liability insurance covers property damage and injuries to others should you be found legally responsible for an accident. You are required to have the minimum amount of coverage, as determined by your state, in both areas.<\/li>\n<li><strong>Collision insurance<\/strong> is insurance covering the damage caused to your car if involved in an accident with another vehicle.<\/li>\n<li><strong>Comprehensive insurance<\/strong> is an extra level of coverage if involved in an accident with another vehicle and covers other things like theft, vandalism, fire, or weather events as outlined in your policy. There is a deductible assigned to each type of insurance, an amount that you pay out of pocket before your comprehensive coverage takes effect. Comprehensive insurance is often required if you lease or finance the purchase of a vehicle.<\/li>\n<li><strong>Uninsured or underinsured motorist insurance<\/strong>: If you are hit by an uninsured or underinsured motorist, this insurance will help pay medical bills and damage to your car.<\/li>\n<li><strong>Medical payments insurance<\/strong> is mandatory in some states and helps pay for medical costs associated with an accident, regardless of who is at fault.<\/li>\n<li><strong>Personal injury protection insurance<\/strong> is coverage for certain medical bills and other expenses due to a car accident. Other covered expenses may include loss of income or childcare, depending on your policy.<\/li>\n<li><strong>Gap insurance <\/strong>is designed to cover the gap between what is owed on the car and what the car is worth in the event your car is a total loss.<\/li>\n<li><strong>Rental reimbursement insurance<\/strong> is coverage for a rental car while your car is under repair resulting from an accident.<\/li>\n<\/ul>\n<p>You can also purchase other special insurance policies, such as classic car insurance, new car replacement insurance, and sound system replacement insurance, to name a few. It is important that you determine exactly what you need, as insurance policies can be expensive and vary according to your age, driving history, and where you live.<\/p>\n<section class=\"textbox example\">\n<ol style=\"list-style-type: decimal;\">\n<li>Which component of insurance pays if you are in an accident with a motorist without insurance?<\/li>\n<li>Which component of insurance pays for the remaining principal owed on your car in the case of a total loss?<\/li>\n<\/ol>\n<p><div class=\"qa-wrapper\" style=\"display: block\"><button class=\"show-answer show-answer-button collapsed\" data-target=\"q160936\">Show Solution<\/button><\/p>\n<div id=\"q160936\" class=\"hidden-answer\" style=\"display: none\">\n<ol style=\"list-style-type: decimal;\">\n<li>Uninsured motorist insurance covers accidents with those who have no insurance.<\/li>\n<li>Gap insurance will cover the gap between what is owed on the car and what it is worth if an accident results in a total loss.<\/li>\n<\/ol>\n<\/div>\n<\/div>\n<\/section>\n<section class=\"textbox example\">If your car payment is [latex]$287.50[\/latex] per month and your car insurance is [latex]$930[\/latex] every [latex]6[\/latex] months, what is the cost of the car per month when accounting for the insurance?<\/p>\n<div class=\"qa-wrapper\" style=\"display: block\"><button class=\"show-answer show-answer-button collapsed\" data-target=\"q160931\">Show Solution<\/button><\/p>\n<div id=\"q160931\" class=\"hidden-answer\" style=\"display: none\">\nThe cost of the car including insurance is the monthly payment, [latex]$287.50[\/latex], plus the monthly cost of the insurance. The insurance cost per month is [latex]\\frac{$930}{6}=$155[\/latex] since the insurance cost is for every [latex]6[\/latex] months. Adding those the cost with insurance is [latex]$442.50[\/latex].\n<\/div>\n<\/div>\n<\/section>\n<h3>Maintaining a Car<\/h3>\n<p>Cars are not a buy it and forget it item. They require upkeep, which adds to the cost of owning the car.<\/p>\n<p>When thinking about maintaining a car we all know we have to pay for gas but there are other costs you might not be considering. Beyond fuel, maintaining a car involves additional costs, such as replacing tires, brakes, oil, and wipers. Furthermore, some states mandate annual vehicle inspections which comes at an additional fee.<\/p>\n<p>Below is a list of some maintenance requirements for cars, along with cost and roughly how often they should happen.<\/p>\n<table>\n<tbody>\n<tr>\n<th>Maintenance<\/th>\n<th>Frequency<\/th>\n<th>Cost Range<\/th>\n<\/tr>\n<tr>\n<td>New Tires<\/td>\n<td>Every [latex]3-5[\/latex] years<\/td>\n<td>[latex]$50\u2013$300+[\/latex] per tire<\/td>\n<\/tr>\n<tr>\n<td>Oil Change<\/td>\n<td>Every [latex]3,000\u20136,000[\/latex] miles<\/td>\n<td>[latex]$35\u2013$75+[\/latex]<\/td>\n<\/tr>\n<tr>\n<td>Wipers<\/td>\n<td>Every [latex]6\u201312[\/latex] months<\/td>\n<td>[latex]$20\u2013$40[\/latex]<\/td>\n<\/tr>\n<tr>\n<td>Inspection<\/td>\n<td>Annual<\/td>\n<td>[latex]$10\u2013$50[\/latex]<\/td>\n<\/tr>\n<tr>\n<td>Brake pads<\/td>\n<td>[latex]10,000\u201320,000[\/latex] miles<\/td>\n<td>[latex]$200\u2013$300[\/latex]<\/td>\n<\/tr>\n<tr>\n<td>Air Filter<\/td>\n<td>[latex]15,000\u201330,000[\/latex] miles<\/td>\n<td>[latex]$35\u2013$80[\/latex]<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>When designing a budget, these expected costs should be accounted for. Extra money per month should be saved in addition to this budget category, to handle unanticipated, and perhaps very costly, repairs.<\/p>\n<section class=\"textbox example\">Estella needs to budget for her car maintenance. She expects to buy new tires every [latex]5[\/latex] years, which will cost her [latex]$480[\/latex] to replace them all. Oil changes near her cost [latex]$49.99[\/latex], and she believes she will get one every [latex]4[\/latex] months. Her inspection costs [latex]$15[\/latex] per year. Wipers for her car cost [latex]$95[\/latex] for all three and she anticipates changing them every year. She drives less than [latex]30,000[\/latex] miles per year, so she plans to replace the air filter once per year. The air filter for her car costs [latex]$57.50[\/latex]. How much should she budget per month to cover these costs?<\/p>\n<div class=\"qa-wrapper\" style=\"display: block\"><button class=\"show-answer show-answer-button collapsed\" data-target=\"q160939\">Show Solution<\/button><\/p>\n<div id=\"q160939\" class=\"hidden-answer\" style=\"display: none\">\nHer yearly costs are the wipers, inspection, and airfilter, which total [latex]$167.50[\/latex]. Tires will be bought every [latex]5[\/latex] years, so per year she should budget [latex]$96[\/latex]. Her oil changes, which will happen three times per year, cost [latex]$49.99[\/latex] each, so she\u2019ll spend [latex]$149.97[\/latex] for the year on oil changes. Adding these up, her yearly budget should include [latex]$413.47[\/latex] for maintenance. Dividing by [latex]12[\/latex] gives the monthly budget for maintenance, which is [latex]$34.46[\/latex] (rounded up to the next penny).\n<\/div>\n<\/div>\n<\/section>\n<h3>Fuel Costs<\/h3>\n<p>Fuel efficiency, often referred to as gas mileage, is a measurement of how far a vehicle can travel on a specific amount of fuel, typically measured in miles per gallon (MPG) in the United States. The more efficient a vehicle is, the less fuel it uses to travel a particular distance, leading to lower fuel costs over time.<\/p>\n<section class=\"textbox example\">\n<p>The impact of fuel efficiency on your wallet becomes clearer when you consider the amount of driving you do. For example, let&#8217;s say you drive [latex]12,000[\/latex] miles per year. If your car gets [latex]25[\/latex] MPG, you&#8217;ll need to buy [latex]480[\/latex] gallons of gas per year. However, if your car gets [latex]35[\/latex] MPG, you&#8217;ll only need about [latex]343[\/latex] gallons of gas. That&#8217;s a saving of around [latex]137[\/latex] gallons of gas per year, just by choosing a more fuel-efficient car!<\/p>\n<\/section>\n<p>Several factors can influence a car&#8217;s fuel efficiency. Some of these are inherent to the vehicle itself, such as its size, weight, and engine type. Others are influenced by how and where you drive. City driving with lots of stop-and-go traffic can lower fuel efficiency, as can carrying heavy loads or using roof racks, which increase wind resistance.<\/p>\n<p>When buying a car, you&#8217;ll often see an EPA (Environmental Protection Agency) rating for fuel efficiency. This rating gives an estimated MPG for city driving, highway driving, and a combined average. These numbers can be helpful when comparing different cars, but remember, your actual MPG may vary based on your specific driving conditions and habits.<\/p>\n<p>Once you know your car&#8217;s typical MPG you can calculate your annual fuel cost.<\/p>\n<section class=\"textbox keyTakeaway\">\n<div>\n<h3>annual fuel cost<\/h3>\n<div style=\"text-align: center;\">[latex]\\text{ annual fuel cost } = \\frac{\\text{miles driven annually}}{\\text{miles per gallon}} \\times \\text{ price per gallon of gas}[\/latex]<\/div>\n<\/div>\n<\/section>\n<section class=\"textbox example\">If you drive [latex]15,000[\/latex] miles per year and gas costs [latex]$3.75[\/latex] per gallon, how much would you spend on gas in a year with a car that gets an average of [latex]25[\/latex] MPG versus a car that gets an average of [latex]35[\/latex] MPG?<\/p>\n<div class=\"qa-wrapper\" style=\"display: block\"><button class=\"show-answer show-answer-button collapsed\" data-target=\"q160932\">Show Solution<\/button><\/p>\n<div id=\"q160932\" class=\"hidden-answer\" style=\"display: none\">\nFirst, let&#8217;s calculate how many gallons of gas you would use per year for each car:<\/p>\n<ul>\n<li>For the car that gets [latex]25[\/latex] MPG: [latex]15,000[\/latex] miles [latex]\u00f7 25[\/latex] MPG [latex]= 600[\/latex] gallons per year<\/li>\n<li>For the car that gets [latex]35[\/latex] MPG: [latex]15,000[\/latex] miles [latex]\u00f7 35[\/latex] MPG [latex]\\approx 429[\/latex] gallons per year<\/li>\n<\/ul>\n<p>Next, we&#8217;ll calculate the annual cost of gas for each car:<\/p>\n<ul>\n<li>For the car that gets [latex]25[\/latex] MPG: [latex]600[\/latex] gallons [latex]\\times $3.75[\/latex] per gallon [latex]= $2,250[\/latex]<\/li>\n<li>For the car that gets [latex]35[\/latex] MPG: [latex]429[\/latex] gallons [latex]\\times $3.75[\/latex] per gallon [latex]\\approx $1,609[\/latex]<\/li>\n<\/ul>\n<div class=\"wp-nocaption \"><\/div>\n<p>So, if you chose the car that gets [latex]35[\/latex] MPG over the one that gets [latex]25[\/latex] MPG, you would save about [latex]$641[\/latex] in gas costs per year given the stated conditions.<\/p>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"author":15,"menu_order":15,"template":"","meta":{"_candela_citation":"[]","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"part":4885,"module-header":"learn_it","content_attributions":[],"internal_book_links":[],"video_content":null,"cc_video_embed_content":{"cc_scripts":"","media_targets":[]},"try_it_collection":null,"_links":{"self":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapters\/4063"}],"collection":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/wp\/v2\/users\/15"}],"version-history":[{"count":30,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapters\/4063\/revisions"}],"predecessor-version":[{"id":15460,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapters\/4063\/revisions\/15460"}],"part":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/parts\/4885"}],"metadata":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapters\/4063\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/wp\/v2\/media?parent=4063"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/pressbooks\/v2\/chapter-type?post=4063"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/wp\/v2\/contributor?post=4063"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/content.one.lumenlearning.com\/quantitativereasoning\/wp-json\/wp\/v2\/license?post=4063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}