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A family wishes to buy a new midsize automobile. The two options they consider are (a)...

A family wishes to buy a new midsize automobile. The two options they consider are (a) a standard automobile with a 4-cylinder SI engine that gets 30 mpg and costs $24,000 and (b) a hybrid automobile that gets 48 mpg and costs $28,000. On average, the family drives 12,000 miles per year. Calculate:

(a) Amount of gasoline each vehicle would use each year (gal).
(b) Gasoline cost savings of hybrid over standard if gasoline costs (i) $2.00 per gallon, (ii) $4.00 per gallon.
(c) Time it would take to recoup the additional cost of the hybrid in (i) and (ii) above

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