Jennifer is leasing a car from a local auto retailer. The terms of the lease include a 9% interest rate for 36 months with a res
idual value of 57%. The MSRP for the car Jennifer is leasing is $17,500. What will Jennifer’s monthly lease payment be? a. $93.84 b. $99.75 c. $209.03 d. $312.06
1. The problem gives the residual value in percentage, and you need it in dollars. So, if the MSRP for the car Jennifer is leasing is $ 17,500, you have:
57%/100=0.57
residual value=$17,500*0.57= $9,975
2. Then, you need to substract the residual value and the lease term, to calculate the value of the car, as below:
car value=$17,500-$9,975=$7,525
3. You need to calculate the money factor, which is the interest rate divided by 2400. Then, you have:
The correct answer is arithmetic density. This is because for a country, it is also known as real density and it's defined as the number of people per unit area of total land in that country.
Thus, the population of a country divided by its area determines its arithmetic density
