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 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.

Answer 2

The correct answer is:

17,800

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.