Answer:
Total cost of the lease is 16,900 dollars.
Step-by-step explanation:
Given the down payment is 1200 dollars.
Given the monthly payment is 200 dollars for 36 months.
Given the residual value is 8500 dollars.
Total cost of the lease is the sum of down-payment, total of all monthly payments, and residual value.
Total cost of the lease = Down payment + Total of all monthly payments + Residual value.
Total cost of the lease = 1200 + 200*36 + 8500.
Total cost of the lease = 1200 + 7200 + 8500 = 16,900 dollars.
