The formula to calculate the Carpool Savings (CS) is:
\[
CS = \frac{D \times C \times P}{N}
\]
Where:
\( CS \) is the monthly carpool savings ($)
\( D \) is the total distance travelled per month (miles)
\( C \) is the cost per mile for driving (including gas, maintenance, etc.) ($)
\( P \) is the percentage of time you are carpooling (decimal)
\( N \) is the number of people in the carpool
Definitions
Carpool Savings (CS): The financial benefits derived from sharing a car journey with others.
Total Distance Travelled Per Month (D): The total distance travelled in a month in miles.
Cost Per Mile for Driving (C): The cost per mile for driving, including gas, maintenance, etc.
Percentage of Time Carpooling (P): The percentage of time you are carpooling, expressed as a decimal.
Number of People in Carpool (N): The number of people sharing the carpool.
Example
Let's say the total distance travelled per month (D) is 1000 miles, the cost per mile for driving (C) is $0.50, the percentage of time carpooling (P) is 0.75, and the number of people in the carpool (N) is 4. Using the formula:
\[
CS = \frac{1000 \times 0.50 \times 0.75}{4}
\]
We get:
\[
CS = \frac{375}{4} = 93.75 \text{ dollars}
\]
So, the monthly carpool savings is approximately $93.75.
Extended information about "Carpool-Savings-Calculator"
Electric Car Savings Calculator
Definition: Calculate the savings from using an electric car compared to a gasoline car.
Formula: \( S = (C_g - C_e) \times D \)
\( S \): Savings
\( C_g \): Cost per mile for gasoline car
\( C_e \): Cost per mile for electric car
\( D \): Distance driven
Example: \( S = (0.12 - 0.04) \times 15000 \)
\( C_g \): 0.12
\( C_e \): 0.04
\( D \): 15000
Car Loan Savings Calculator
Definition: Calculate the savings from paying off a car loan early.
Formula: \( S = P \times \frac{r}{n} \times t \)
\( S \): Savings
\( P \): Principal amount
\( r \): Annual interest rate
\( n \): Number of payments per year
\( t \): Time in years
Example: \( S = 20000 \times \frac{0.05}{12} \times 3 \)
\( P \): 20000
\( r \): 0.05
\( n \): 12
\( t \): 3
Electric Car Fuel Savings Calculator
Definition: Calculate the fuel savings from using an electric car.
Formula: \( S = (F_g - F_e) \times D \)
\( S \): Savings
\( F_g \): Fuel cost per mile for gasoline car
\( F_e \): Fuel cost per mile for electric car
\( D \): Distance driven
Example: \( S = (0.15 - 0.05) \times 12000 \)
\( F_g \): 0.15
\( F_e \): 0.05
\( D \): 12000
Car Loan Payoff Savings Calculator
Definition: Calculate the savings from paying off a car loan early.
Formula: \( S = P \times \frac{r}{n} \times t \)
\( S \): Savings
\( P \): Principal amount
\( r \): Annual interest rate
\( n \): Number of payments per year
\( t \): Time in years
Example: \( S = 15000 \times \frac{0.04}{12} \times 2 \)
\( P \): 15000
\( r \): 0.04
\( n \): 12
\( t \): 2
Calculate an Uber Pool Savings
Definition: Calculate the savings from using Uber Pool compared to a regular Uber ride.
