Consider the following​ situation, which involves two options. Determine which option is less expensive. Are there unstated factors that might affect your​ decision?
You currently drive 375 miles per week in a car that gets 23 miles per gallon of gas. You are considering buying a new​ fuel-efficient car for ​$12 comma 000 ​(after trade-in on your current​ car) that gets 41 miles per gallon. Insurance premiums for the new and old car are ​$1000 and ​$600 per​ year, respectively. You anticipate spending ​$1300 per year on repairs for the old car and having no repairs on the new car. Assume gas costs ​$3.00 per gallon. Over a​ five-year period, is it less expensive to keep your old car or buy the new​ car?