Driven per year for leasing and buying to cost the same

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How many kilometers must a car be driven per year for leasing and buying to cost the same? Use 10% interest and year-end cost. Leasing: $0.20 per kilometer Buying: $5000 purchase cost, 3-year life, salvage $1200. $0.04 per kilometer for gas and oil, $500 per year for insurance.

Reference no: EM131087913

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Driven per year for leasing and buying to cost the same : How many kilometers must a car be driven per year for leasing and buying to cost the same? Use 10% interest and year-end cost. Leasing: $0.20 per kilometer Buying: $5000 purchase cost, 3-year life, salvage $1200. $0.04 per kilometer for gas and oil, ..

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