To lease a mid-size sedan, a car dealership charges
$4000
up front and
$400
per month.
(b) Use your answer from part (a) to compute the cost of leasing the car for
4
years.
To compute the total cost of the lease, we substitute
4
years of months, or
months.
To compute the total cost of leasing the car for 4 years, we need to calculate the cost of leasing for 48 months.
The cost of leasing per month is $400.
Therefore, the cost of leasing the car for 4 years is: 48 months * $400/month = $<<48*400=19200>>19,200.
Adding the upfront cost of $4000, the total cost of leasing the car for 4 years is: $4,000 + $19,200 = $23,200.
To compute the cost of leasing the car for 4 years, we need to calculate the monthly cost for 4 years and add it to the upfront cost.
First, let's calculate the monthly cost for 4 years. Since there are 12 months in a year, multiply the monthly cost by 12 to get the yearly cost:
$400 x 12 = $4800 per year
Now, we multiply the yearly cost by 4 to get the cost for 4 years:
$4800 x 4 = $19,200
Next, we add the upfront cost to the total yearly cost:
$19,200 + $4,000 = $23,200
Therefore, the cost of leasing the mid-size sedan for 4 years is $23,200.
To compute the cost of leasing the car for 4 years, we need to calculate the number of months in 4 years.
There are 12 months in a year, so 4 years is equal to 4 * 12 = 48 months.
Now we substitute 48 months into the equation:
Cost of leasing = up front cost + (monthly cost * number of months)
= $4000 + ($400 * 48)
= $4000 + $19200
= $23,200
Therefore, the cost of leasing the car for 4 years would be $23,200.