Automobile repair shops typically recommend that their customers change their oil and oil for every 2.500 miles. Your automobile user's manual suggests changing your of every 4,500-6,500 miles if you anve your car 22.500 miles each yearand an ol and filter change costs $30, how much money would you save each year if you had this service performed every 4,500 miles?Your savings wil be $per year. Round to the nearest cent.)

Answered: Automobile repair shops typically…

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section6.1: Why Save?

Problem 6R

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Automobile repair shops typically recommend that their customers change their oil and oll filter every 4.500 miles. Your automobile user's manual suggests changing your oil every 6,500-8,000 miles. If you drive your car 87,750 miles each year and an oil and filter change costs S34, how much money would you save each year if you had this service performed every 6.500 miles? Your savings will be $ per year. (Round to the nearest cent.Y Enter your answer in the answer box
uestion 3 If you want to minimize interest payments on a loan, you'll need one that has a simple interest rate so that yo John opened an account, and knew exactly how much it would be worth at the end of the year, because it used year. What is simple interest? Oa. Interest only on original amount saved or borrowed Ob. interest on original amount saved, borrowed and other interest earned Oc. a fee paid for the use of someone else's money Od. taxes on the original amount saved or borrowed L A Moving to another question will save this response. →
. The price of a car you want is $35,000 today. Its price is expected to increase by $1000 each year.You now have $21,000 in an investment account, which is earning 7% per year. How many yearswill it be before you have enough to buy the car without borrowing any money? (Use Goal Seek todetermine the time taken.)
Automobile repair shops typically recommend that their customers change their oil and oil filter every 4,000 miles. Your automobile user's manual suggests changing your oil every 6,500-8,500 miles. If you drive your car 78,000 miles each year and an oil and filter change costs $32, how much money would you save each year if you had this service performed every 6,500 miles? Your savings will be $ per year. (Round to the nearest cent.)
Bill wants to buy a new car in three years from now. He expects that the price of a car will be $15,000 in three years. How much money should Bill put in hos savings accounts now tat pays 5% interest rate on this account?
A consumer who starts at point B will want to borrow, but as little as possible in order to minimise the cost of interest. is it true or false
ou decided to go and apply for a credit card at your local financial institution.The Prime rate currently announced on June 1 was 3.25%. You have goodcredit history and a FICO score of 700. The lowest rate that they can offer toindividuals is a 18.99% APR for a credit card that gives cashback on purchasesand rewards. You were offered 21.99% APR for the credit card. How did thelender determine or calculate what rate they should offer you?
When is it necessary to use factorial design
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It is likely that airplane tickets will increase 8% in each of the next 5 years. The cost of a plane ticket at the end of the first year will be 10622. How much money would need to be placed in a savings account now to have money to pay for a trip at the end of each year for the next 5 years? Assume the savings account pays 2% annual interest. Round your answer to 2 decimal places.
Often it makes a lot of sense to spend some money now so you can save more money in the future. Consider filtered water. A high-tech water filter costs about $60 and can filter 7,200 ounces of water. This will save you purchasing two 20-ounce bottles of filtered water every day, each costing $1.15. The filter will need replacing every 6 months. How much will this filter save you in a year’s time?

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