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Business, 18.09.2019 00:00 sissy11145

You currently drive 250 miles per week in a car that gets 24 miles per gallon of gas. you are considering buying a new fuel-efficient car for $14 comma 000 (after trade-in on your current car) that gets 53 miles per gallon. insurance premiums for the new and old car are $800 and $400 per year, respectively. you anticipate spending $1500 per year on repairs for the old car and having no repairs on the new car. assume gas costs $3.50 per gallon. over a five-year period, is it less expensive to keep your old car or buy the new car?

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