Compare prices with its traditional model

Reference no: EM133367508

List three hybrid cars, miles per gallon(choose city or highway) and the selling price of current year or next year's model. Give the selling price and miles per gallon of the same traditional car model. Cite your sources.

Pick a hybrid car and compare prices with its traditional model. Find the equilibrium price.

Use simple interest. I = prt. Use 6% interest for 5 years. Use the price of gas that is listed at the gas station you use.. Miles driven each month is 1000 miles. Give the month and year when they cost the same amount.?

(total price for hybrid car) + (cost of gas per month)x = (total price for traditional car) + (cost of gas per month)x. The start month being January of this year.

Total price of car example: 12,000(.06)(5) = 3600; 12000+3600 = 15600(price + interest)

Cost of gas per month: 1000/36(miles per gallon) times 2.19(price of gas) = 60.83 (cost of gas per month); do the same for the traditional car-(1000/30)times $2.19 = 73 (cost of gas per month for traditional car)

Hybrid car information is on the left side and traditional car information is on the right side of the equation. This is an equilibrium equation.

15600 + 60.83x = 14300 +73x Solve for x which is in months.

1300 = 12.17x

106.82 = x (divide by twelve to convert to years)

X=8.91 years (multiply the decimal part by 12 to find the months) (.91 times 12=10.82) 11 months

November 2025 you will start saving money by driving a hybrid.

Reference no: EM133367508

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