Question

Victoria Santos recently leased a new convertible. The $1599 due at signing includes the title and license fee. Her monthly lease payments are $700 per month. The leasing company allows 12,000 miles per year with a $0.12 per mile overage charge. If the total lease cost is $18,400, for how many months does the lease last?

Answer 1

 she would halve to make payment for around 26-27 months

Answer 2

Let the number of months be x

26800 = 1599. + 700x .... assuming no overmiles charge

26800-1599= 700x

25202. /700=x

x= 36 months
.............