Your car gets 24 miles per gallon mpg at 60 miles per hour m

Your car gets 24 miles per gallon (mpg) at 60 miles per hour (mph) and 20 mpg at 70 mph. At what speed should you make a 500-mile trip: If gas costs $3 per gallon and your time is worth $18/hr? If gas costs $4 per gallon and your time is worth $12/hr? If gas costs $5 per gallon and your time is worth $9/hr? Build a spreadsheet (see Appendix A) to calculate the total trip cost for gas costs of $2, $3, $4, and $5 and values of time of $6, $9, $12, $15, and $18 per hour. Do two tables: one at 60 mph and one at 70 mph.

Solution

60mph 6 9 12 15 18 2 91.67 116.63 141.62 166.61 191.6 3 112.48 137.47 162.1 187 212.4 4 133.3 158.29 163.28 188.27 188.27 5 154.13 179.12 204.11 229.1 254.09 70mph 6 9 12 15 18 2 92.84 114.26 135.68 157.1 178.52 3 117.84 139.26 160.68 182.1 203.52 4 142.84 164.26 185.68 207.1 228.52 5 167.84 189.26 210.68 232.1 253.52