Answered

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\begin{tabular}{|c|c|c|c|}
\hline
& \begin{tabular}{l}
Monthly \\
payment
\end{tabular} & \begin{tabular}{l}
Up-front \\
cost
\end{tabular} & \begin{tabular}{l}
Insurance \\
and gas
\end{tabular} \\
\hline
\begin{tabular}{l}
Option A \\
Buy new
\end{tabular} & \begin{tabular}{l}
[tex][tex]$\$[/tex]338[tex]$[/tex] for \\
60 months
\end{tabular} & [tex]$[/tex]\[tex]$2,500$[/tex][/tex] & \begin{tabular}{l}
[tex][tex]$\$[/tex]275[tex]$[/tex] a \\
month
\end{tabular} \\
\hline
\begin{tabular}{l}
Option B \\
Lease new
\end{tabular} & \begin{tabular}{l}
[tex]$[/tex]\[tex]$229$[/tex][/tex] for \\
36 months
\end{tabular} & [tex][tex]$\$[/tex]3,925[tex]$[/tex] & \begin{tabular}{l}
[tex]$[/tex]\[tex]$275$[/tex][/tex] a \\
month
\end{tabular} \\
\hline
\begin{tabular}{l}
Option C \\
Buy used
\end{tabular} & \begin{tabular}{l}
[tex][tex]$\$[/tex]250[tex]$[/tex] for \\
36 months
\end{tabular} & [tex]$[/tex]\[tex]$2,000$[/tex][/tex] & \begin{tabular}{l}
[tex][tex]$\$[/tex]225$[/tex] a \\
month
\end{tabular} \\
\hline
\end{tabular}

Based on your budget, which transportation option is the best financial decision for you? Explain your answer in at least two sentences.

Sagot :

GinnyAnswer
To determine the best financial decision, we need to calculate the total cost of each option over their respective periods and compare them.

1. Option A: Buy New
- Monthly payment for 60 months: \[tex]$338 - Upfront cost: \$[/tex]2,500
- Monthly running cost for 60 months: \[tex]$275 - Total cost = (338 60) + 2500 + (275 60) = \$[/tex]39,280

2. Option B: Lease New
- Monthly payment for 36 months: \[tex]$229 - Upfront cost: \$[/tex]3,925
- Monthly running cost for 36 months: \[tex]$275 - Total cost = (229 36) + 3925 + (275 36) = \$[/tex]22,069

3. Option C: Buy Used
- Monthly payment for 36 months: \[tex]$250 - Upfront cost: \$[/tex]2,000
- Monthly running cost for 36 months: \[tex]$225 - Total cost = (250 36) + 2000 + (225 36) = \$[/tex]19,100

After comparing the total costs, Option C (Buy Used) has the lowest total cost at \$19,100, making it the best financial decision among the three choices.
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