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Business, 01.11.2019 02:31 SushiMagic

Aspender ucf graduate likes the prestige of a lexus is 250. saver ucf graduate drives a corolla. the internet shows that the five year cost of owning a 2010 lexus is 250 is $42,814 while the five year cost of owning a 2010 corolla is $24,607, an $18,207 difference over five years. on an annual basis, this would equate to the lexus costing $3,641.40 more per year assume our ucf saver invests the savings of $3,641.40 per year (end of the year) for 40 years and earns 1 1% per year (interest compounded annually). how much will the saver have in his/her retirement account as a result of driving lower cost cars throughout his/her lifetime? note: see aaa brochure in modules chapter 8 for more details on how to calculate the cost per mile. a. $451,063.73 b. $2,351,714.20 c. $23,975,813.49 d. $231,987.38

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