use the following formula.\na = \frac{pleftleft(1+\frac{r}{n}\right)^{nt}-1\right}{left(\frac{r}{n}\right)}\n…

use the following formula.\na = \frac{pleftleft(1+\frac{r}{n}\right)^{nt}-1\right}{left(\frac{r}{n}\right)}\nsuppose that you drive 30,000 miles per year and gas averages $4 per gallon. complete parts a. and b. below.\na. what will you save in annual fuel expenses by owning a hybrid car averaging 30 miles per gallon rather than an suv averaging 9 miles per gallon?\n$ square$\n(round to the nearest dollar as needed.)

use the following formula.\na = \frac{pleftleft(1+\frac{r}{n}\right)^{nt}-1\right}{left(\frac{r}{n}\right)}\nsuppose that you drive 30,000 miles per year and gas averages $4 per gallon. complete parts a. and b. below.\na. what will you save in annual fuel expenses by owning a hybrid car averaging 30 miles per gallon rather than an suv averaging 9 miles per gallon?\n$ square$\n(round to the nearest dollar as needed.)

Answer

Explanation:

Step1: Calculate fuel consumption of SUV

The fuel - consumption formula is $F=\frac{M}{MPG}$, where $M$ is the miles driven and $MPG$ is the miles per gallon. For the SUV, $M = 30000$ miles and $MPG = 9$ miles per gallon. So the fuel consumption of the SUV, $F_{SUV}=\frac{30000}{9}=\frac{10000}{3}$ gallons.

Step2: Calculate fuel cost of SUV

The cost per gallon is $C = 4$ dollars. So the annual fuel cost of the SUV, $Cost_{SUV}=F_{SUV}\times C=\frac{10000}{3}\times4=\frac{40000}{3}\approx13333.33$ dollars.

Step3: Calculate fuel consumption of hybrid car

For the hybrid car, $M = 30000$ miles and $MPG = 30$ miles per gallon. So the fuel consumption of the hybrid car, $F_{hybrid}=\frac{30000}{30}=1000$ gallons.

Step4: Calculate fuel cost of hybrid car

The cost per gallon is $C = 4$ dollars. So the annual fuel cost of the hybrid car, $Cost_{hybrid}=F_{hybrid}\times C=1000\times4 = 4000$ dollars.

Step5: Calculate the savings

The savings in annual fuel expenses, $Savings=Cost_{SUV}-Cost_{hybrid}=\frac{40000}{3}-4000=\frac{40000 - 12000}{3}=\frac{28000}{3}\approx9333$ dollars.

Answer:

$9333$