Sam leases a car for 24 months. The car will cost him $7,000 if he decides to buy it at the end of the lease. What term describes the $7,000?
A. interest
B. residual value
C. lease amount

Question

Sam leases a car for 24 months. The car will cost him $7,000 if he decides to buy it at the end of the lease. What term describes the $7,000? 
A. interest
B. residual value
C. lease amount

anonymous · Answer

Umm. @soonerboy  I think this is a math question. I think you would get more help if you post it in the math section. But if this is a history question please tell me if im wrong thanks. oh and by they way im pretty sure the anwser is C. becasue at the end of the lease date he/she would have to pay $7,000 which makes $7,000 the lease amount Hope this explans it well.

anonymous · Answer

It's neither, It's Financial Literacy, but I'm stuck on the same answer I was just looking

anonymous · Answer

the answer is b