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6 August, 01:05

Based on the data provided here, calculate the items requested: Annual depreciation $ 3,000 Annual mileage 15,600 Current year's loan interest $ 750 Miles per gallon 24 Insurance $ 980 License and registration fees $ 165 Average gasoline price $ 3.50 per gallon Oil changes/repairs $ 970 Parking/tolls $ 820 a. Calculate total annual operating cost of the motor vehicle.

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  1. 6 August, 03:46
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    Total = $5,960

    Explanation:

    Giving the following information:

    Annual depreciation $ 3,000

    Annual mileage 15,600

    Current year's loan interest $ 750

    Miles per gallon 24

    Insurance $ 980

    License and registration fees $ 165

    Average gasoline price $ 3.50 per gallon

    Oil changes/repairs $ 970

    Parking/tolls $ 820

    Gasoline consumption = 15,600/24 = 650 gallons

    Annual operating cost:

    Interest = 750

    Insurance = 980

    Licence = 165

    Oil changes = 970

    Parking = 820

    Gasoline = 3.5*650 = 2,275

    Total = $5,960
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