Foundations for College Math (MBF3C) · Personal Finance

Annual cost of owning and operating a vehicle

Combine fixed monthly costs and fuel costs to find the total annual cost of owning and operating a vehicle. Unlimited questions, five difficulty levels, and a full worked solution every time — free.

Practice this skill Curriculum: MBF3C-PF3

Try one

Deshawn's car costs $300.00 a month for loan payments and insurance combined. Deshawn drives about 6000 km a year, and the car uses 11 L of gas per 100 km at $1.55/L. Find the total cost of owning and operating the car for one year.

Answer: 4623

See one solved, step by step

Maya's car costs $350.00 a month for loan payments and insurance combined. Maya drives about 15000 km a year, and the car uses 11 L of gas per 100 km at $1.61/L. Find the total cost of owning and operating the car for one year.

📘 Worked solution

1Fixed costs: $350.00 · 12 = $4200.00The monthly loan and insurance payment repeats for all 12 months of the year.

2Fuel used: (15000 / 100) · 11 = 1650 LFuel efficiency is litres per 100 km, so scale it by how many "hundreds of km" are driven.

3Fuel cost: 1650 · $1.61 = $2656.50Multiply litres used by the price per litre.

4Total = $4200.00 + $2656.50 = $6856.50Add the fixed costs and the fuel cost together for the full annual cost.

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