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Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas UNIT TWO: CALCULATING PAYMENTS I get paid weekly, but pay bills monthly. How can I be sure I am not going to run out of money when the bills are due. Personal Finance: The Cost of Gas A cool ride is only cool when it is not being repossessed.

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Page 1: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

UNIT TWO: CALCULATING PAYMENTS

I get paid weekly, but pay bills monthly. How can I be sure I am not going to run out of money when

the bills are due.

Personal Finance:

The Cost of GasA cool ride is only

cool when it is not being repossessed.

Page 2: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Lesson Objective:

• Students will calculate the cost of driving an automobile using fuel costs, distance, and MPG (miles per gallon).

Page 3: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Discussion

What is the current cost of Gas?

What types of MPGs do different types of cars get?

Page 4: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Discussion

What is the current cost of Gas?

What types of MPGs do different types of cars get?

2015- $2.763 per gallon (AAA National Average)

Hummer H3 9-18 MPGPorsche 911 19-28 MPG

Dodge Charger 13-27 MPGFord C-Max Hybrid 37-42 MPG

(Values taken from www.fueleconomy.gov)

Page 5: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Calculating the Weekly Cost of Gas

Calculating your cost of gas is easy.

You need to know:1. The current price of gasoline.

2. Your car’s MPG.3. How far it is to travel to work.

Page 6: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Calculating the Weekly Cost of Gas

The equations you will use are:

Gallons used = Miles DrivenMiles Per Gallon

and:

Cost of Gas = Gallons Used x Price Per Gallon

Page 7: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Calculating the Weekly Cost of Gas

If your car gets 28 MPG, you live 10 miles from work, and gas is $4.05 per

gallon:Total miles driven per week:20 miles round trip x 5 days a week =

100 miles driven

Page 8: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Calculating the Weekly Cost of Gas

If your car gets 28 MPG, you live 10 miles from work, and gas is $4.05 per

gallon:Gallons used = Miles Driven

Miles Per Gallon

Page 9: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Calculating the Weekly Cost of Gas

If your car gets 28 MPG, you live 10 miles from work, and gas is $4.05 per

gallon:Gallons used = Miles Driven

Miles Per Gallon

Gallons used = 100 Miles28 MPG

Page 10: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Calculating the Weekly Cost of Gas

If your car gets 28 MPG, you live 10 miles from work, and gas is $4.05 per

gallon:Gallons used = Miles Driven

Miles Per Gallon

Gallons used = 100 Miles28 MPG

Gallons used = 3.57 Gallons per week

Page 11: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Calculating the Weekly Cost of Gas

If your car gets 28 MPG, you live 10 miles from work, and gas is $4.05 per

gallon:Gallons used = 3.57 Gallons per week

Cost of Gas = Gallons Used x Price Per Gallon

Page 12: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Calculating the Weekly Cost of Gas

If your car gets 28 MPG, you live 10 miles from work, and gas is $4.05 per

gallon:Gallons used = 3.57 Gallons per week

Cost of Gas = Gallons Used x Price Per Gallon

Cost of Gas = 3.57 Gallons x $4.05 Per Gallon

Page 13: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

Calculating the Weekly Cost of Gas

If your car gets 28 MPG, you live 10 miles from work, and gas is $4.05 per

gallon:Gallons used = 3.57 Gallons per week

Cost of Gas = Gallons Used x Price Per Gallon

Cost of Gas = 3.57 Gallons x $4.05 Per Gallon

Cost of Gas = $14.46 per week

Page 14: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

1. What does MPG stand for?

2. What is the equation for calculating your Weekly Cost of Gas ?

3. Calculate the weekly gas cost If your car gets 25 MPG, you live 5 miles from work and work 5 days a week, and gas is $2.03 per gallon.

Review:

Page 15: Copyright 2014 © W. Seth Hunter ConsumerMath.org L2.3 The Cost of Gas I get paid weekly, but pay bills monthly. How can I be sure I am not going to run

Copyright 2014 © W. Seth HunterConsumerMath.org

L2.3 The Cost of Gas

1. What does MPG stand for?

2. What is the equation for calculating your Weekly Cost of Gas ?

3. Calculate the weekly gas cost If your car gets 25 MPG, you live 5 miles from work and work 5 days a week, and gas is $2.03 per gallon.

Review:

Miles Per Gallon?

Cost of Gas = Gallons Used x Price Per Gallon

$4.06


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