Question

Cindy would like to lease a car worth $56,000 for a three-year period. The leasing company told Cindy that after three years, the car would have a residual value of $40,320. How much of the car’s original value will Cindy have to pay off during her three-year lease?
a. $1,389
b. $7,200
c. $15,680
d. $40,320

Answer 1

The answer could be either C or D but i am leaning towards D because its saying the Residual value which is the left over from the payment. so that's the money that is left over so she still has to pay for it. the answer is D. $40,320

Answer 2

the answer is C. $15,680