Have you ever heard of Chamberlain's formula, which claims to be a model that tells you how many years you should drive your present car before you buy a new one? If y is this number of years, then Chamberlain's formula reads GMC (G - M)DP y = where G is the new car's gas mileage, M is your present car's gas mileage, C is the cost in dollars of the new car, D is the number of miles you drive in a year, and P is the dollar price of gasoline per gallon. Suppose the new car's gas mileage is 33 mi/gal, the old car's gas mileage is 13 mi/gal, the price of the new car is $30,000, you drive 15,000 mi/year, and the cost of gasoline is $5.00/gal. How many years should your old car have been driven to justify buying the new one?
Have you ever heard of Chamberlain's formula, which claims to be a model that tells you how many years you should drive your present car before you buy a new one? If y is this number of years, then Chamberlain's formula reads GMC (G - M)DP y = where G is the new car's gas mileage, M is your present car's gas mileage, C is the cost in dollars of the new car, D is the number of miles you drive in a year, and P is the dollar price of gasoline per gallon. Suppose the new car's gas mileage is 33 mi/gal, the old car's gas mileage is 13 mi/gal, the price of the new car is $30,000, you drive 15,000 mi/year, and the cost of gasoline is $5.00/gal. How many years should your old car have been driven to justify buying the new one?
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter6: Polynomials
Section6.2: Use Multiplication Properties Of Exponents
Problem 168E: Depreciation Once a new car is driven away from the dealer, it begins to lose value. Each year, a...
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Transcribed Image Text:Have you ever heard of Chamberlain's formula, which claims to be a model that tells you how many years you should drive your present car before you buy a new one? If y is this number of years, then
Chamberlain's formula reads
GMC
y =
(G - M)DP
where G is the new car's gas mileage, M is your present car's gas mileage, C is the cost in dollars of the new car, D is the number of miles you drive in a year, and P is the dollar price of gasoline per gallon.
Suppose the new car's gas mileage is 33 mi/gal, the old car's gas mileage is 13 mi/gal, the price of the new car is $30,000, you drive 15,000 mi/year, and the cost of gasoline is $5.00/gal. How many years should
your old car have been driven to justify buying the new one?
yr
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