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A businesswoman wants to determine the difference between the costs of owning and leasing an automobile. She can lease a car for $470 a per
A businesswoman wants to determine the difference between the costs of owning and leasing an automobile. She can lease a car for $470 a per month (on an annual basis). Under this plan, the cost per mile is $0.02. If she were to purchase the car, the fixed annual expense would be $4500, and other costs would amount to $0.04 per mile. What is the least number of miles she would have to drive per year to make leasing no more expensive than purchasing? Can you show how to work this question
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