Question

Find the total cost of a 36 month car lease, if: monthly payment = $175. down payment = $1,500. residual value = $10,000

A.) $11,675
B.) $16,300
C.) $17,800

Answer 1

The correct answer is:

17,800

Step-by-step explanation:

Since the lease payments are $175 each month for 36 months, this is 175(36)=$6300.

Add the down payment to this: 6300+1500 = $7800.

Add the residual value to this: 7800+10000 = $17800.

Answer 2

The total cost of a 36 month car lease given the specified parameters is $17,800. The correct answer between all the choices given is the last choice or letter C. I am hoping that this answer has satisfied your query and it will be able to help you in your endeavor, and if you would like, feel free to ask another question.