Module One Project MAT1431903
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Fayetteville Technical Community College *
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143
Subject
Economics
Date
Apr 3, 2024
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docx
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2
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Module One Project
Choose two locations (starting and ending) in the United States that are within 500 miles from each other (one way) and can be driven between by car.
Starting Location (city, state):
Ending Location (city, state):
FAYETTVILLE, NC
DOSWELL, VA
Round-trip distance, in miles: 246 miles
1.
How much time (in hours) will it take to drive this distance, round-trip?
3 hrs 32 min x2 (there and back) = 7 hrs 4 min
3 hrs 32 min
60 sec=1 min
+3 hrs 32 min
60 min=1 hr
___________
I can now move the hour to the hour side with a remainder of 4 minutes
6 hrs 64 min (60 min=1 hr) 7 hrs 4 min
2.
How much, in US Dollars, will you need just for gas for this round-trip vacation? Be sure to state any assumptions you make.
My car in the economy today takes approximately $40 for a full tank which lasts for 275 miles. My trip round trip is 492 miles in total If I filled my car up once more from the destination to return, $80 would provide me with 550 miles leaving me with an extra 58 gallons of fuel and $8.44 remaining.
275mi/$40=$6.87per gallon
$6.87 per gallon x2=$13.75 (not rounded).
550mi-492mi=58mi
40x2=80
58g/$6.87=$8.44
80-8.44=71.56 for gas in total for 492 miles exactly.
3.
What are some other budget considerations you should account for before going on this vacation? Calculate how much money you will need for those considerations.
Emergency cash: $50
Maintenance issues can also occur. However, my insurance from USAA covers me since I
pay 88.00 monthly. A tow truck from an agency associated will come to my location for assistance. For example:
Tire(s) blown out
Dead battery
Engine failure
Transmission issues
Food accommodations:
Roundtrip: $50 should be plenty for myself for a filling meal plus snacks.
4.
What is the total amount ($) you should have for this trip?
Roundtrip for gas, emergencies, and food: $171.56-180 USD.
5.
Now, imagine you go this same distance, but in another country (your choice). How much (in local currency) would you need for gas there? How much in U.S. Dollars?
492 miles will be driven round trip from Fayetteville, NC to Doswell, VA. $71.56 will be used for gas. Today, 1 USD=19.86 MXN Pesos and 1MXN Peso= 0.05035USD. $71.56x19.86= 1421.18 Mxn Pesos roundtrip $80x19.86=1588.80 Mxn Pesos roundtrip
MXN Peso: 492mi/1421.18=0.346 Mxn Peso per/gal (.35 Mxn Peso/gal)
492mi/1588.80=.0396 Mxn Peso per/gal (.31 Mxn Peso/gal)
USD: 492mi/71.56=$6.87 per gal
6.
What is the absolute and relative difference between costs? Let the U.S. be your reference.
Absolute= new-old
1421.18-71.56=1349.62 pesos
1588.80-80=1508.8 pesos
Relative=absolute/old
=1349.62/71.56 is 18.859
=18.859x100 is 1885.9% (1886% rounded to the nearest whole number)
=1508.8/80 is 18.86
=18.86x100 is 1886%
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