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Lemur [1.5K]
1 year ago
7

Dave finney leases a vehicle for $245. 50 for 36 months. The deposit is $575. 00, and the title and license fees total $105. 0.

What is the total lease cost?
Business
1 answer:
erik [133]1 year ago
5 0

The total lease cost is $680.

<h3>What is a lease?</h3>
  • A lease is a contractual agreement that requires the user to pay the owner for the use of an item.
  • Property, buildings, and cars are examples of leased assets. Leasing is also used for industrial or commercial equipment.
  • A lease agreement, in general, is a contract between two parties: the lessor and the lessee.
  • The lessee acquires the right to use the asset in exchange for regular rental payments from the lessor, who is the legal owner of the asset.
  • The lessee also undertakes to follow certain conditions when using the property or equipment.
  • A person leasing a car, for example, may agree to the restriction that the car will only be used for personal purposes.

To find the total lease cost:

  • The total deposit is $575.
  • License fees of $105.
  • So, total lease cost = 575 + 105 = $680.

Therefore, the total lease cost is $680.

Know more about lease here:

brainly.com/question/26052885

#SPJ4

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