Interest is not given

A used car is purchased and driven for 5 years. Car payments, insurance, depreciation, etc. will cost a fixed $6,000 every year. The average cost of fuel, oil, and maintenance is calculated to be $0.28 per mile. Neglecting any other costs, what is the average cost per mile of owning and operating the vehicle if it is driven for: (a) 48,000 miles, (b) 72,000 miles? Flow Type Formula i = er/K - 1 F = P(1 + i) S I N G Factor Notation Compound Amount (F/P, 1, N) Present Worth (P/F, 1, N) ia = er - 1 L E P = F(1 + i) i = (1+"-1 i= (1+)-1 E Q U Compound Amount (F/A, i, N) (1 + i)N - F=A i A L AE(i) = PW(i)(A/P,,N) CR(i) = (1 - )(A/P,i,N) - is Sinking fund (A/F, 1, N) A = i L1+i* - AEC(i) = a + bx + x* = To A Y M E N T PW(i*) = 0 Present worth (P/A, i, N) p-1[***] [(1 + i)" - i(1 + i) An, inflows (1 + i)N-n An, outflows(1 + k)-n = (1 + MIRR)N S E R I ax2 + bx+c=0 E Capital recovery (A/P, 1, N) A = P i(1 + i) (1 + i) S -b + b2 - 4ac X = 2a G R Linear gradient A D (1 + i) iN - P= GO ;(1 + in ** ) I E N T Parameters Find Given Algebraic Notation Factor Notation Present worth (P/G, i, N) Equal-payment Conversion factor (A/G,1,N) Geometric gradient A = G (1 + i)" - iN - i[(1 + i)" 1] N-1 P [] (P/,r, N) rer ren A P (AIP,r, N) S E R I 1 - (1 + g)(1 + i)-N 1 [ ]] i - 8 F [^'] (FIA,r, N) P= Present worth (P/A, 8, 1,N) E S (if i = 8) F (AIP,r, N)