SOLUTION: A business woman wants to determine the difference between the costs of owning and leasing an automobile. She can lease a car for $420 a month (on an annual basis). Under this plan
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Question 439597: A business woman wants to determine the difference between the costs of owning and leasing an automobile. She can lease a car for $420 a month (on an annual basis). Under this plan, the cost per mile (gas and oil) is $0.06. If she were to purchase a car, the fixed annual expense would be $4700, and the other costs would amount to $0.08 per mile. What is the least number of miles she would drive per year to make leasing no more expense than purchasing Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! 5040+.06x<>4700+.08x
Multiply all by 100:
504000+6x<>470000+8x
97000<>2x
48500=x
She would have to drive 48500 miles to make leasing no more expensive than purchasing.
