Cars

Road Trip!

Value

Buy/Lease

Insurance Terminology

Bad Korean Jokes

100

Your local gas station's average price this year was ‎₩1,500 per liter. If your car can travel 12 km per liter, how much does driving 1 km cost in gas?

‎₩125

100

A used car depreciates according to a linear model of $350 per year. If you purchased the car for $5,250, how much could you expect to sell it for after 3 more years?

$4,200

100

Which of the following is a "cost of ownership": gas, tires, repairs, or depreciation?

Depreciation

100

Which of the following is NOT covered by your liability insurance alone (choose all that apply): (A) your car repairs (if it was your fault) (B) your car repairs (if it was their fault) (C) another person's car repairs (if it was your fault) (D) another person's medical bills (if it was your fault) (E) another person's car repairs (if it was their fault)

(A) is your collision, (B) is the other person's liability, and (E) is their collision. Only (C) and (D) are covered by your liability.

100

What sound did the boy make after his girlfriend crossed the train platform's gap?

He "사이"ed.

200

Your car's city gas mileage is 12 km per liter. If recent gas prices approximate ‎₩1500 and a train ride is‎ ‎₩1250, what is the maximum km you can drive before spending more than the cost of a train ticket?

10 km

200

A car depreciates approximately 9% when driven off the car lot. If a car is bought for ‎₩40,000,000 and driven off the lot, what would be its new resale value?

‎₩36,400,000

200

Which types of insurance are required for a lease: liability, collision, or comprehensive? (Choose all that apply.)

All three are required for a lease or a financed car.

200

Dan's 50/100/50 liability plan will cover the costs of an accident. The family of 5 people that he hit will each require $35,000 in medical costs, and their car will require $35,000 in repairs. Will insurance cover all of the costs?

Med (per person): 35,00<50,000, so yes

Med (per accident): 35,000x5 = 175,000 > 100,000, so NO

Property: 35,000 < 50,000, so yes

200

What kind of people feel like they will live forever?

"영-원"s

300

A car's highway gas mileage is about 30 miles per gallon. If recent costs for gas are near $2.50 and 1 mile = 1.61 km, how many km can this car travel for $1?

19.32 km

300

A car's sticker price is $35,000; you have a trade-in allowance of $7,500 for your old car. There is a 5% sales tax. What will be the final price?

$29,250

300

A ‎₩25M car is leased for ‎a capitalized cost of ‎₩20M. Local tax is 5%, fees are ‎₩75,000, and the lease will cost ‎₩400,000 per month for 3 years. What will be the total amount spent on this car?

.05(20M) + 75000 + (400000)(36) = ‎₩15,475,000

300

Which type of inexpensive insurance that covers fire, vandalism, and other non-accident damages is also known as "종합 보험"?

Comprehensive

300

Why wouldn't the boy visit the card reader with his girlfriend?

He wanted to go "따로"

400

A road trip will entail traveling 120 miles in New York, 110 in New Jersey, and 50 in Pennsylvania, each way (it's a round trip). If current gas prices are $2.70 in NY, $2.55 in NJ, and $2.75 in PA and your 40 MPG car begins with 1 gallon, what is the best possible plan for buying gas?

Buy approx. 2 gallons in New York, then buy at least 11 gallons in New Jersey.

400

A Kia Sorento FWD's combined fuel efficiency is about 24 miles per gallon. If 1 gal = 3.7854 L and 1 mile = 1.61 km, what is this in liters per 100 km?

~ 9.8 L / 100 km (from ‎~10.2 km/L)

400

If the ‎₩25M car from the 300-point question (capitalized cost: ‎₩20M) is to be bought out at its 39% residual value, how much would the lessee have to pay for the car?

‎₩9,750,000

400

Two collision coverage plans have semiannual premiums of $194 (plan A, with a $250 deductible) and $165 (plan B, with a $500 deductible). What is the main advantage of plan A?

The lower deductible will cause you to pay less if your car is damaged than plan B.

400

What was Jesus' favorite class in school?

"예술"학

500

$2.70 x 2 + $2.55 x 11 = $33.45

500

A car's depreciation is modeled with the exponential model of 20% for the first year, then 15% per proceeding year. If a car's value is ‎₩50,000,000 now, what will be its estimated value in April 2023?

‎₩20,880,250

500

A used car is bought for $14,000. If the car is 3 years old and followed the 20% 1st year/15% each later year depreciation model, how much was the car worth when it was first purchased?

(14000 / .85) = 16,470.59 after 2 years

(16470.59 / .85) = 19,377.16 after 1 year

(19377.16 / .80) = $24,221.45 new

500

A ‎₩20M car has depreciated over the past 2 years by 30% total. The owner's collision coverage includes a ‎₩500,000 deductible. If the car is totaled and needs to be replaced, how much money will the owner receive for its replacement?

(20M - 0.3x20M) - 500,000 = ‎₩13,500,000

500

What is an artist's favorite type of weather?

"이슬"-비