years to pay for his college tuition. He says that he typically earns around $300 per day, and all he has t do is drive around in his car for 12 hours a day. He says if I do this everyday, I can make $9,000 per month, isn't that great? My rent is only $1,000 per month, and my tuition costs $6,000 per year. I'm set! As an analyst, you naturally start to ask him questions. For example: How many miles is he driving? He tells you he's been driving roughly 1000 miles per week. How much is he spending on gas? He's not sur but he tells you that he's been getting roughly 20 miles per gallon, and gas typically costs him $5.00 per gallon. What about maintenance on his car? He says that the manufacturer recommends that he change the oil and filters on his car every 10000 miles and typically costs him $100. Is your friend considering everything necessary to determine if this a good plan or not?

years to pay for his college tuition. He says that he typically earns around $300 per day, and all he has t do is drive around in his car for 12 hours a day. He says if I do this everyday, I can make $9,000 per month, isn't that great? My rent is only $1,000 per month, and my tuition costs $6,000 per year. I'm set! As an analyst, you naturally start to ask him questions. For example: How many miles is he driving? He tells you he's been driving roughly 1000 miles per week. How much is he spending on gas? He's not sur but he tells you that he's been getting roughly 20 miles per gallon, and gas typically costs him $5.00 per gallon. What about maintenance on his car? He says that the manufacturer recommends that he change the oil and filters on his car every 10000 miles and typically costs him $100. Is your friend considering everything necessary to determine if this a good plan or not?

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter8: Vehicle And Other Major Purchases

Section: Chapter Questions

Problem 1FPC

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