Question

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

Answer 1

Answer:

$2900

Step-by-step explanation:

• Length of lease = 36 months

• MSRP of the car = $22,750

• Purchase value of the car after lease = $16,900

• Down payment = $1800

• Monthly payment = $425

• Security deposit = $375

• Acquisition fee = $300

The amounts in bold above (last 4 lines) are usually due at signing. Usually there is also sales tax, but that is not mentioned here.

Total due at signing: $1800 + $425 + $375 + $300 = $2900

Answer: $2900