Question

Kaydee Young had an open-end lease for a station wagon for the senior center. The lease cost $239 per month for 48 months. She paid a deposit of $550, a title fee of $65, and a license fee of $120. At the end of the lease, she can buy the station wagon for its residual value of $8,860. a. What is the total lease cost? b. What is the total cost if she buys the car?

Answer 1

The total lease cost is the sum of the total amount of payments, the deposit, the title fee and the license fee.
a) 14,352
B)15,224