Question

Given below are lease terms at the local dealership. What is the total cash due at signing?

Answer 1

Answer: $3,700

Explanation: 

Let 

$C = \text{total cash due at signing} \\ \indent D = \text{Down payment} = \ 2400 \\ \indent M = \text{Monthly payment} = \ 425 \\ \indent S = \text{Security deposit} = \ 375 \\ \indent A = \text{Acquisition fee} = \ 500$

Note that the total cash due at signing a lease includes down payment, first monthly payment, security deposit and acquisition fee. So, the total cash due at signing is given by 

C = D + M + S + A
    = 2,400 + 425 + 375 + 500
C = $3,700

 

Answer 2

Answer:

Step-by-step explanation:

It is given that  below are lease terms at the local dealership:

Let C be the total cash due at signing, D be the down payment, M be the monthly payment, S is the security deposit and A be the Acquisition fee, thus

D=$2400,

M= $425,

S= $375 and

A=$500

Now, The total cash due at signing consists of the down payment, Security deposit, Monthly payment and Acquisition fee in case of the local dealership, thus

$C=D+M+S+A$

$C=2400+425+375+500$

$C= 3700$

Therefore, The total cash due at signing will be $3700.