Renting a Vehicle pp. 333-335 9- 7 SECTION
Renting a Vehicle
Jan 05, 2016
SECTION. 9-7. pp. 333-335. Renting a Vehicle. Key Words to Know. rent (p. 333) Payment for the use of a vehicle, usually on a daily, weekly, or monthly basis. Formula. Cost per Mile = Total Cost ÷ Number of Miles Driven. Example 1. - PowerPoint PPT Presentation
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Renting a Vehicle pp. 333-3359-7SECTIONSECTION
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Copyright © Glencoe/McGraw-Hill MBA, Section 9-7, Slide 2 of 16
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rent (p. 333)
Payment for the use of a vehicle, usually on a daily, weekly, or monthly basis.
Key Words to KnowKey Words to Know
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Copyright © Glencoe/McGraw-Hill MBA, Section 9-7, Slide 3 of 16
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Cost per Mile = Total Cost ÷ Number of Miles Driven
Formula Formula
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Copyright © Glencoe/McGraw-Hill MBA, Section 9-7, Slide 4 of 16
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Joe Wozup rented a car for 3 days at $39.95 per day plus $0.20 per mile. He purchased the collision waiver for $10.00 per day. Wozniak drove 468 miles and paid $21.70 for gasoline.
What was the total cost of renting the car?
What was the total cost per mile to rent the car?
Example 1Example 1
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Copyright © Glencoe/McGraw-Hill MBA, Section 9-7, Slide 5 of 16
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Find the total cost.
Daily cost: $39.95 × 3 = $119.85
Mileage cost: $0.20 × 468 = 93.60
Gasoline cost: 21.70
Collision waiver: $10.00 × 3 = 30.00
Total Cost $265.15
Example 1 Answer: Example 1 Answer: Step 1Step 1
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Copyright © Glencoe/McGraw-Hill MBA, Section 9-7, Slide 6 of 16
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Find the cost per mile.
Total Cost ÷ Number of Miles Driven
$265.15 ÷ 468 = $0.566 or $0.57 per mile
Example 1 Answer: Example 1 Answer: Step 2Step 2
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Copyright © Glencoe/McGraw-Hill MBA, Section 9-7, Slide 7 of 16
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Frodo Baggins rented a sedan for $41.95 a day for 3 days. He paid $0.20 per mile for all miles over 150 miles per day. He drove 186 miles the first day, 78 miles the second day, and 210 miles the third day. Gasoline cost him $22.68. He paid $12.50 per day for a collision waiver.
Find the total cost and cost per mile for renting the sedan.
Example 2Example 2
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Copyright © Glencoe/McGraw-Hill MBA, Section 9-7, Slide 8 of 16
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Find the total cost.
($41.95 × 3) + [$0.20 × (36 + 0 + 60)] + $22.68 + ($12.50 × 3)
$125.85 + $19.20 + $22.68 + $37.50 = $205.23
Example 2 Answer: Example 2 Answer: Step 1Step 1
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Copyright © Glencoe/McGraw-Hill MBA, Section 9-7, Slide 9 of 16
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Find the cost per mile.
$205.23 ÷ (186 + 78 + 210)
$205.23 ÷ 474 = $0.43297 or $0.43 per mile
Example 2 Answer: Example 2 Answer: Step 2Step 2
333:1-16333:1-16
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