To calculate the Total Car Cost (TCC):
\[ \text{TCC} = \text{LC} + \text{MC} + \text{IC} \]
Where:
The Total Car Cost refers to the sum of all monthly expenses associated with owning a car, including loan payments, maintenance, and insurance costs.
Let's assume the following values:
Using the formula:
\[ \text{TCC} = 300 + 50 + 100 = 450 \text{ per month} \]
The Total Car Cost is $450 per month.
Let's assume the following values:
Using the formula:
\[ \text{TCC} = 400 + 75 + 125 = 600 \text{ per month} \]
The Total Car Cost is $600 per month.