Nikolai Rakov leases a vehicle for $399.00 a month for 48 months. He pays a deposit of $1,225.00, an $85.00 title fee, and a $160.00 license fee. The lease stipulates a $0.20 per mile charge for all miles more than 60,000 driven. If he drives the vehicle 68,515 miles, what is the total cost of leasing the vehicle?

Step-by-step explanation:

Nikolai Rakov leases a vehicle for $399.00 a month for 48 months. This means that the total charge for 48 months is

399 × 48 = 19152

He pays a deposit of $1,225.00, an $85.00 title fee, and a $160.00 license fee.

The lease stipulates a $0.20 per mile charge for all miles more than 60,000 driven. If he drives the vehicle 68,515 miles, the the number of additional miles above

60,000 driven is

68515 - 60000 = 8515

Cost of 8515 additional miles is

0.2 × 8515 = $1703

Therefore, the total cost of leasing the vehicle is

19152 + 1225 + 85 + 160 + 1703 = $22325

40% off the regular price is the correct answer.

step-by-step explanation: