Answered

Discover the answers to your questions at Westonci.ca, where experts share their knowledge and insights with you. Connect with professionals ready to provide precise answers to your questions on our comprehensive Q&A platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

\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.
We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.