Hi! First time posting but I've read millions of your brilliant messages some! I'm trying to work on a scenario and not sure how best to go about scenarios in Excel.
Problem: Driver has a leased car that gets 28 MPG, and has 170 days left on his lease. He is 2000 miles before he hits his mileage cap, then he's charged $0.25 per mile. Driver has a second car that he owns, but it gets only 16 MPG. Given the difference in fuel cost, what is the optimal number of miles he should be driving on his leased car before switching to the owned car? [Assumptions: Drives 60 miles per day driven Monday through Friday, 10 miles per day Saturday and Sunday. Fuel costs $2.50 per gallon.]
How do I solve this problem in Excel? What I did, incorrectly, was created two vertical areas for each car, and that would give me the cumulative cost of driving each. But this isn't a fair comparison because in this example only one car is being driven. So how do I use Excel to solve this problem?
THANKS GUYS!******** type="text/javascript" src="chrome-extension://lamaakaemgdclpnfbofmhpkanfnojjch/allow_select-and-copy.js">*********>
Problem: Driver has a leased car that gets 28 MPG, and has 170 days left on his lease. He is 2000 miles before he hits his mileage cap, then he's charged $0.25 per mile. Driver has a second car that he owns, but it gets only 16 MPG. Given the difference in fuel cost, what is the optimal number of miles he should be driving on his leased car before switching to the owned car? [Assumptions: Drives 60 miles per day driven Monday through Friday, 10 miles per day Saturday and Sunday. Fuel costs $2.50 per gallon.]
How do I solve this problem in Excel? What I did, incorrectly, was created two vertical areas for each car, and that would give me the cumulative cost of driving each. But this isn't a fair comparison because in this example only one car is being driven. So how do I use Excel to solve this problem?
THANKS GUYS!******** type="text/javascript" src="chrome-extension://lamaakaemgdclpnfbofmhpkanfnojjch/allow_select-and-copy.js">*********>
