Question

Michael wants to estimate how much it will cost him each month to own and maintain his car. Which of the following costs should not be included in the calculations?

Options:
Option 1: Fuel expenses
Option 2: Insurance
Option 3: Routine maintenance
Option 4: Parking fees

Answer 1

To calculate his monthly automotive expenses, Michael should include fuel expenses, car insurance, and routine maintenance costs. Parking fees might not need to be included if they are not a regular or required expense based on his personal circumstances.

Step-by-step explanation:

When estimating the monthly cost of owning and maintaining a car, Michael should consider various expenses. These include fuel expenses, which can fluctuate based on gas prices and vehicle efficiency, and car insurance, a required expense that varies depending on several factors such as driving history, age, and the vehicle’s safety ratings. Additionally, routine maintenance, which is typically distributed with an annual mean cost, converts to a monthly expense. However, Parking fees, while they can be regular, are more variable and context-dependent. For instance, if Michael’s job or apartment provides free parking or if he typically uses street parking without a fee, then these costs may not be pertinent to calculate on a monthly basis.