Problem

Buying a car A consumer is trying to decide whether to purchase car A or car B. Car A co...

Buying a car A consumer is trying to decide whether to purchase car A or car B. Car A costs $20,000 and has an mpg rating of 30, and insurance is $1000 per year. Car B costs $24,000 and has an mpg rating of 50, and insurance is $1200 per year. Assume that the consumer drives 15,000 miles per year and that the price of gas remains constant at $3 per gallon. Based only on these facts, determine how long it will take for the total cost of car B to become less than that of car A.

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