You have purchased a hybrid car that cost $63,565. The rate of the loan is 3.25%. Registration fees are $35, tag transfer fee is $10, title fees are $100 and there is a title tax of 6%. The car gets a combined 29 miles per gallon and has a 17.2 gallon tank. You drive 8000 miles per year and the cost of gas is $3.354 per gallon. Assume you will keep the car for 10 years, the resale value is negligible, and the loan period is 10 years.

What is the total cost of driving the car for one year?

What is the annual fuel savings of having a hybrid if a gasoline car has a 21 mpg and a 19.2 gallon fuel tank?

How long does it take for the additional cost of the hybrid model to pay for itself through fuel savings?