Carpool Savings Calculator

Formula

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.