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Answer is 13,333 miles but please show work on to how to get to the final answer Victoria is choosing between a standard Honda Civic
Answer is 13,333 miles but please show work on to how to get to the final answer
Victoria is choosing between a standard Honda Civic for $20,000 or a hybrid Civic for $25,000. She calculates her annual cost of ownership including payments but not including gasoline to be $5000 for the standard and $5800 for the hybrid. The standard Civic will cost Victoria 18c/mile for gasoline, while the hybrid will cost her only 12/mile. How many miles must Victoria drive in a year before the hybrid vehicle becomes more cost efficient to her? Contributed by Paul R. McCright, University of South Florida 9-65Step by Step Solution
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