Explain compensate for the higher cost of the car

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Reference no: EM13222968

You are trying to decide which of two automobiles to buy. The first is American- made, costs $14,500, and has a rated gasoline mileage of 28miles/gal. The second car is of European manufacture, costs$21,700, and has a rated mileage of 19km/L. If the cost of gasoline is $1.25/gal and if the cars actually deliver their rated mileage, estimate how many miles you would have to drive for the lowest fuel consumption of the second car to compensate for the higher cost of this car?

Reference no: EM13222968

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