Buying a New Car
Suppose you want to buy a new car and trying to choose between two models:
- Model A: costs $15,000 and its gas mileage is 25 miles per gallon and its insurance is $200 per year.
- Model B: costs $22,000 and its gas mileage is 50 miles per gallon and its insurance is $400 per year.
If you drive approximately 40,000 miles per year and the gas costs $3 per gallon:
- Find a formula for the total cost of owning Model A where the number of years is the independent variable.
- Find a formula for the total cost of owning Model B where the number of years is the independent variable.
- Find the total cost for each model for the first five years.
- If you plan to keep the car for four years, which model is more economical? How about if you plan to keep it for six years?
- Find the number of years in which the total cost to keep the two cars will be the same.
- Identify the number of months where neither car holds a cost of ownership advantage.
- What effect would the cost of gas doubling have on cost of ownership? Graph or show hand calculations.
- If you can sell neither car for 40% of its value at any time, how does the analysis change? Graph or show hand calculations.
- Paper must be written in 3rd person.
- Your paper should be 4-5 pages in length (counting the title page and references page) and cite and integrate at least one credible outside source. The CSU-Global Library (Links to an external site.) is a great place to find resources. Your textbook is a credible resource.
- Include a title page, introduction, body, conclusion, and a reference page.
- The introduction should describe or summarize the topic or problem. It might discuss the importance of the topic or how it affects you or society as a whole, or it might discuss or describe the unique terminology associated with the topic.
- The body of your paper should answer the questions posed in the problem. Explain how you approached and answered the question or solved the problem, and, for each question, show all steps involved. Be sure this is in paragraph format, not numbered answers like a homework assignment.
- The conclusion should summarize your thoughts about what you have determined from the data and your analysis, often with a broader personal or societal perspective in mind. Nothing new should be introduced in the conclusion that was not previously discussed in the body paragraphs.
- Include any tables of data or calculations, calculated values, and/or graphs associated with this problem in the body of your assignment.
- Document formatting, citations, and style should conform to the CSU-Global Virtual Library CSU-Global Guide to Writing and APA: Introduction (Links to an external site.). A short summary containing much that you need to know about paper formatting, citations, and references is contained in the New Sample APA Paper (Links to an external site.). In addition, information in the CSU-Global Virtual Library (Links to an external site.) under the Writing Center/APA Resources tab has many helpful areas (Writing Center, Writing Tips, Template & Examples/Papers & Essays, and others).