SOLUTION: Bob has a very old car that he;d like to replace. The old car costs $250 each month for repairs, $120 for each month for gas, and $60 each month for insurance. A friend is willing

Question 311786: Bob has a very old car that he;d like to replace. The old car costs $250 each month for repairs, $120 for each month for gas, and $60 each month for insurance. A friend is willing to sell him a reliable used car for $7800. In addition to the price of the car, this used car will cost $90 each month for gas and $80 each month for insurance. If Bob buys the used car, how long will it take before he beings to save money on car expenses. Assign a variable.
Please help, I can not come up with a logical equation for this question. Thank you
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Bob has a very old car that he;d like to replace.
The old car costs $250 each month for repairs, $120 for each month for gas,
and $60 each month for insurance.
A friend is willing to sell him a reliable used car for $7800.
In addition to the price of the car, this used car will cost $90 each month for
gas and $80 each month for insurance.
If Bob buys the used car, how long will it take before he begins to save money on car expenses.
Assign a variable.
:
Let m = the no. of months for him to save money
:
old car expense = new car expense
m(250+120+60) = 7800 + m(90+80}
:
430m = 7800 + 170m
430m - 170m = 7800
260m = 7800
m =
m = 30 months they are equal and will save money in the 31st month
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