(Round your answer to the nearest dollar) Suppose that you drive 40,000 miles per year and gas averages $4 per gallon. a. What will you save in annual fuel expenses by owning a hybrid car averaging 40...


(Round your answer to the nearest dollar)<br>Suppose that you drive 40,000 miles per year and gas<br>averages $4 per gallon.<br>a. What will you save in annual fuel expenses by<br>owning a hybrid car averaging 40 miles per gallon<br>rather than an SUV averaging 16 miles per gallon?<br>b. What is your monthly fuel saving?<br>b. If you deposit your monthly fuel savings at the end<br>of each month into an annuity that pays 5.2%<br>compounded monthly, how much will you have saved<br>at the end of six years?<br>

Extracted text: (Round your answer to the nearest dollar) Suppose that you drive 40,000 miles per year and gas averages $4 per gallon. a. What will you save in annual fuel expenses by owning a hybrid car averaging 40 miles per gallon rather than an SUV averaging 16 miles per gallon? b. What is your monthly fuel saving? b. If you deposit your monthly fuel savings at the end of each month into an annuity that pays 5.2% compounded monthly, how much will you have saved at the end of six years?

Jun 05, 2022
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