The monthly payment for a car lease is $300 for 24 months. The down payment is $1,000. The residual value is $9,000. What is the total cost of the lease?
A. 17,200
B. 40,700
C. 8,200

Question

The monthly payment for a car lease is $300 for 24 months. The down payment is $1,000. The residual value is $9,000. What is the total cost of the lease?
A. 17,200
B. 40,700
C. 8,200

amistre64 · Answer

we have to make 24 payments of 300 each, how much will that be?

and we already spent 1000 for the thing, so a 1000 to total payments.

not real sure what a residula value it tho

amistre64 · Answer

.. not real sure what a residual value is.

anonymous · Answer

aight thanks i have no idea what it is

amistre64 · Answer

i think the residual value is added in as a distraction, so id just figure out the 300(24)+1000 as the cost of the lease