What is price per gallon x gallons purchased = Gas $ spent?
What is miles driven/gallons used = mpg?
100
When is it better to use mean to find a fair price?
When prices are close together.
100
What is the formula for linear depreciation?
y = mx + b
100
What is the formula for exponential depreciation?
y = A(1-r)to the power of x
100
What is insurance?
When you pay a company in advance to cover your expenses in the event of an emergency.
200
Yazmin gets 25 mpg and drove 320 miles. How much gas did she use?
What is 12.8 gallons?
200
The prices for a used car are $4000, $3000 and $9000. Use mean or median to find a fair price?
What is median?
200
What does each letter in the formula represent?
y = price of car when used
m = depreciation rate (negative)
x = # time periods
b = price of car when new
200
What does each letter in the exponential depreciation formula represent?
y= price of car after time goes by
A = price of car when new
r = depreciation rate
x = # of years
200
Why do insurance companies have deductibles?
To prevent people from committing fraud to make a profit off of the insurance.
300
If Timmy buys 8 gallons of gas and spent $36, what was the price per gallon?
What is $4.50?
300
Why do prices of used cars vary more than prices of new cars?
The quality of a used car and be good, fair or bad, which changes the price. All new cars are good.
300
Why do cars depreciate?
As cars get older, they wear out and needs money to be fixed, which causes their value to decrease.
300
Why do some cars depreciate more quickly than others?
Some people maintain their cars more than others.
300
Juan's old premium was $1000. His new premium is $1200. What is the difference between his old quarterly premium and his new quarterly premium?
$50
400
Branden gets 20 mpg in the city and 28 mpg on the highway. He used 4 gallons of gas in the city and 5 gallons of gas on the highway. How many miles did he drive?
80 + 140 = 220 miles
400
Franklin sees a used Kia Optima for sale for $4080, $4100, $5120, and $3990. What would be a fair baseline price?
$4322.50
400
Fred's car is 8 years old and for sale for $3500. If it depreciated at a rate of $1700 per year, how much was the car when new?
What is $17,100?
400
A car was $40,000 when new. It depreciated at a rate of 12% per year. How much will the car be worth in 48 months?
$23,987.81
400
Darren has $50,000 in collision insurance with a $600 deductible. He hits a house and causes $40,000 in damage.
What is Darren's cost? What does the insurance company pay?
500
Tran gets 21 mpg in the city and 26 mpg on the highway. If she drove 80 miles in the city and 100 miles on the highway, how much has did she use total?
What is 7.65 gallons?
500
Dimitria finds a used Chevrolet Tahoe for $14,000, $21,000, $28,000, $35,000, $42,000 and $49,000. What would be the fair baseline price?
What is $38,500?
500
Tom's car is $6,000 but was $21,000 new. The car is 9 years old. How much did it depreciate each year?
$1667
500
A used car costs $7,800. It had depreciated at a rate of 3% per year for 7 years. How much did the car cost when new?
$9653.67
500
Sammi has $20,000 in personal injury protection with a $900 deductible. She hits another car, causing $20,000 in injuries. How much does she have to pay? How much will her insurance company pay?
She pays $900, the insurance company pays $19,100.