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Mike leases a new pickup by paying $3500 up front and $384 a month over three years. The lease also stipulates he will be charged $0.15 per mile for every mile over 36,000. If he puts 41,122 miles on the truck, what will be the total cost of the lease? Round your answer to the nearest cent (hundredth), but do not include a $ in your response.

Respuesta :

The total cost of the lease is  $18,092.30.

What is the total cost of the lease?

The total cost of the lease is a function of the up front fee, payment per month and the total cost for miles over 36,000.

Total cost = $3500 + (384 x 12 x 3) + [0.15 x (41,122 - 36,000)]

$3500 + 13,824 + 768.30  = $18,092.30

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