juanserrano12 juanserrano12

Today at 11:47 AM
Mathematics

Answered

Given the lease terms below, what is the total price of this car if you buy it
after leasing, and you do not get the security deposit back?
Terms:
• Length of lease: 24 months
• MSRP of the car: $21,400
• Purchase value of the car after lease: $17,100
.
Down payment: $1500
.
Monthly payment: $279
Security deposit: $350
• Acquisition fee: $700
O A. $26,346
B. $29,246
C. $27,100
OD. $20,876

Answer :

sqdancefan sqdancefan

Today at 11:52 AM

9514 1404 393

Answer:

A. $26,346

Step-by-step explanation:

The cost is the sum of all of the payments made:

cost = down payment +24×monthly payment +deposit +acquisition fee +after-lease price

cost = $1500 +24×279 +350 +700 +17100 = $26,346

The total price of the car if you buy it after leasing is $26,346.

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