Expense Gas Insurance Oil Registration Depreciation Yearly cost or rate A. $1.11 per mile C. $4.91 per mile $550.00 $400.00 $90.00 $100.00 20% What is the cost per mile over the course of a year for a $24,000 car that depreciates 20%, with costs shown in the table, and that has been driven for 10,000 miles? B. $0.25 per mile D. $0.59 per mile
Expense Gas Insurance Oil Registration Depreciation Yearly cost or rate A. $1.11 per mile C. $4.91 per mile $550.00 $400.00 $90.00 $100.00 20% What is the cost per mile over the course of a year for a $24,000 car that depreciates 20%, with costs shown in the table, and that has been driven for 10,000 miles? B. $0.25 per mile D. $0.59 per mile
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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What is the correct answer please
Transcribed Image Text:Expense
Gas
Insurance
Oil
Registration
Depreciation
Yearly cost
or rate
A. $1.11 per mile
C. $4.91 per mile
$550.00
$400.00
$90.00
$100.00
20%
Fernational Academy of Science. All Rights Reserved.
O
What is the cost per
mile over the course of
a year for a $24,000 car
that depreciates 20%,
with costs shown in the
table, and that has
been driven for 10,000
miles?
B. $0.25 per mile
D.
$0.59 per mile
Expert Solution
Step 1
Cost per mile over the year = Total Cost / Total miles driven
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