What is the breakeven cost of gas if the car will be driven

Reference no: EM13221132

Consider two cars. One has a price of $30,000. It averages 20 miles per gallon. A $1,500 tax credit is offered by the government for this vehicle. The other has a price of $27,000. It averages 16 miles per gallon. Interest rate= 3% per year. What is the breakeven cost of gas in $/gallon if the car will be driven 20,000 miles each year. period=5 years

Reference no: EM13221132

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