Need Help with this Challenge

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Vehicle Purchase Analysis

Vehicle 1 Vehicle 2 Vehicle 3 Vehicle 4 Average Highest Lowest Description 2011 Ford Mustang GT 2012 Honda Civic LX 2013 Ducati Superbike 848 Evo 2012 GMC Canyon Regular Cab Price 18,739.50$   25,490.00$   13,995.00$  

Vehicle Type Passenger Passenger Motorcycle Truck MPG City 27.5 44 18 MPG Highway 35.25 44 25

Seller private seller dealer private seller dealer MPG Average 31.375 44 21.5 Price $25,490 $17,998 $13,995 $17,475

MPG City 19 29 44 18 Yearly Costs Average Highest Lowest MPG Highway 31 41 44 25 Maintenance 475.00$         600.00$         300.00$         Average MPG 25 35 44 21.5 Registration Fee 90.00$          100.00$        60.00$         

Yearly Costs  Insurance 950.00$         1,500.00$     600.00$         Maintenance/Year $600 $300 $500 $500 Registration Fee 100 100 60 100 Loan Average Highest Lowest  Insurance/Year $1,000 $700 $1,500 $600 Amount to Borrow 13,739.50$  20,490.00$  8,995.00$   

Need Loan? yes yes yes yes APR 5% 8% 2% Amount to Borrow $20,490 $12,998 $8,995 $12,475 Years 4                   5                   2                  

APR 4.90% 1.90% 7.90% 3.90% Years 5 4 2 3 Monthly Costs Average Highest Lowest

Monthly Costs Gas 75.45$           101.86$         49.77$           Gas $87.60 $62.57 $49.77 $101.86 Loan Payment 360.33$         406.41$         281.43$        

Loan Payment $385.73 $281.43 $406.41 $367.76 Maintenance 39.58$           50.00$           25.00$           Maintenance/Month $50.00 $25.00 $41.67 $41.67 Insurance 79.17$           125.00$         50.00$          

Insurance/Month $83.33 $58.33 $125.00 $50.00 Total Monthly 554.53$        622.85$        427.33$        Total Monthly $606.67 $427.33 $622.85 $561.28

Affordable? no yes no yes

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Vehicle Purchase Assumptions

$5,000 Total Cash Available for Vehicle Purchase $600 Total Monthly Amount Available to Pay for Operating Vehicle 600 Number of Miles I Expect To Drive Each Month

$3.65 Gas Price Per Gallon

Registration Fee Lookup Table column # 1 2

Cargo Van 100 Farm Vehicle 68 Motor Home 100 Motorcycle 60 Passenger 100 Taxicab 160 Trailer 30 Truck 100

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