Nick is preparing a budget for a catering company. His company can lease a van for $149.00 biweekly. The monthly insurance premium will be $207.00. He estimates costs of $350.00 per month for gas and $750.00 per year for maintenance.
A) What should Nick budget for a year of leasing the van?
To calculate the annual cost of leasing the van, we need to first calculate the biweekly cost and then multiply it by the number of weeks in a year.
Biweekly cost: $149
Monthly cost: $149 * 2 = $298
Annual cost: $298 * 12 = $3576
Therefore, Nick should budget $3576 for a year of leasing the van.