Today in class, my group worked on the car opportunity cost project. We tried to find how much it would cost to get an oil change, but we realized that there are a lot of factors that contribute to that. Apparently the price depends on the engine type and the type of oil that goes in that. So we still have to figure that information out. We did, however find the cost of the brake change and the average insurance cost. I also found the depreciation cost for the used car using a calculator.
This is the website I used for the car depreciation. You enter the purchase price, the current vehicle age in years, and the time in years the vehicle is owned. When you click calculate, it tells you the first year depreciation and total depreciation for the low rate, average rate, and high rate of depreciation. I found it when I was googled "car depreciation calculator" for the project. When I searched some more I found that the depreciation rate is around 15% each year.
This weekend I spent money on materials I needed for art, I bought some clothes, a wallet and I bought some stationary that I needed. Together, everything was around $32.
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