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Vocabulary
Formulas
9.3-9.4
9.5
9.6
100
Costs that increase the more you drive. This includes gasoline and tires.
What is the variable costs?
100
What is (number of payments x amount of payment) + deposit + title fee + license fee?
What is the total lease cost?
100
What is the average retail price? Average retail value = $16,750 Add $175 for tilt steering wheel Add $800 for air-conditioning. Deduct $550 for manual transmission. Deduct $450 for excessive mileage.
What it $16,725?
100
What is the total annual cost? Annual variable = $1000 Annual fixed cost = $1250
What is $2250?
100
The total lease cost if a customer pays $349 per month for 36 months. Deposit $3000.00 Title Fee of $80.00 License Fee of $112.86
What is $15,756.86?
200
The costs that remain about the same regardless of how many miles you drive? This includes insurance, registration fees, and depreciation.
What are fixed costs?
200
Annual Variable Costs + Annual Fixed Costs?
What is total annual costs?
200
The average retail price or a vehicle with an average retail value = $19,100. Add $200 for CD player. Deduct $800 for no air-conditioning. Deduct $525 for excessive mileage.
What is $17,975?
200
The cost per mile of a car driven with an Annual Cost of $2805 and for 11,000 miles.
What is $0.26?
200
The total lease cost if a customer pays $250.00 per month for 39 months. Deposit of $900.00 Title Fee of $75.00 License fee of $54.95
What is $10,779.95?
300
The decrease in the value of your vehicle because of its age and condition.
What is depreciation?
300
(Purchase Price - Today's Worth) divided by Number of Years owned
What is depreciation?
300
The average retail price of a vehicle with an average retail value of $3,900. Add $50 for having a vinyl top. $125 for a cassette player, $25 for power windows, and $25 for power locks. Deduct $175 for having no AC. Add $450 for having less than the expected mileage.
What is $4,400?
300
The annual cost of a vehicle with Annual Variable Costs of $2312.50 and Annual fixed costs of $4321.90.
What is $6634.40?
300
The total lease cost for a sedan leased for 60 payments of $225. $0 deposit, $15 license fee, $60 title fee.
What is $13,575?
400
Making monthly payments to "rent" a car.
What is a lease?
400
Liability Premium + Comprehensive Premium + Collision Premium
What is annual base premium?
400
Use table on page 324 of Text. The annual premium of insurance that has a Driver-rating factor of 1.30. Age group A and insurance-rating group 14. Coverage 50/100 bodily injury. Has 25,000 property damage and both $50 deductible comprehensive and collision coverage.
What is $835.64?
400
The total cost per mile of a vehicle with a total Annual Cost of $6634.40 and driven 20,415 miles.
What is $0.32?
400
The total cost of leasing a vehicle if John Smith leased a 4-door sedan for $199.88 per month for 48 months. He paid a deposit of $1515, a title fee of $95, and a license fee of $65. The lease carried a stipulation that there would be a $0.10 per mile charge for all miles over 60,000. He drove the car for 67,640.
What is $12,033.24?
500
A term or condition in an agreement.
What is a stipulation?
500
Annual Base Premium x Driver-Rating Factor
What is the annual premium?
500
Use table on 324. The annual premium of insurance with a Driver-rating factor of 1.60. Age group D and insurance rating group 12. Coverage 100/300 bodily injury. $50,000 property damage. Both $50 deductible for comprehensive and collision coverage.
What is $921.60?
500
(a) the total annual cost and (b) the cost per mile of a vehicle with: Annual Variable Costs = $1584.00 Annual Fixed Costs = $934.35 Miles Driven = 6,800
What is (a) $2518.35 and (b) $0.37?
500
The total cost of leasing a vehicle if Jane Smith leased a jeep for $209 per month for 60 months. He paid a deposit of $850, a title fee of $45, and a license fee of $60. The lease carried a stipulation that there would be a $0.12 per mile charge for all miles over 60,000. He drove the car 73,524 miles.
What is $15,117.88?