Nathans drive to and from work each day is about 45 miles if he goes to work 226 days in a given year what is the minimal amount you would have to pay an access mileage if you lease from the ABC leasing company with a monthly payment of 463 and a mileage limit of 10,000 an extra mileage charge of 0.25 $ a mile

The minimum amount that Nathan will pay including extra charges for exceeding mileage limit is $5,598.50¢

Step-by-step explanation:

Since Nathan went to work for 226 days, covering 45 miles daily to and from work with the car he leased from the leasing company, he therefore covered a total of:

45 × 226

= 10170 miles.

He covered a total of 10170 miles in that particular year.

If the mileage limit was 10,000 miles, then the additional miles that will attract extra charges will be derived by subtracting the mileage limit from the total miles covered within the given period =

10170 - 10,000

= 170 miles

If the extra mile charge on every mile that exceeds the mileage limit was set at $0.25 per mile, then the amount that Nathan will pay for only exceeding the mileage limit within the year =

0.25 × 170

= $42.50

Again, if leasing a car from the company attracts a monthly payment of $463, the amount that is expected of Nathan to pay for leasing the car from the company for the year is then:

$463 × 12 months

= $5,556

The minimum amount that Nathan will pay for the car in that particular year including charges for exceeding the mileage limit will then be:-

$5,556 + $42.5

= $5,598.50

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