1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Otrada [13]
3 years ago
10

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
Mathematics
2 answers:
katrin [286]3 years ago
6 0
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:

 Interest rate=9%/100=0.09

 Money factor=0.09x2400
 Money factor=0.00375

 4. The interest is:

 I=($17,500+$9,975)(0.00375)
 I=$103.03

 5. Therefore, the monthly payment is:

 Monthly payment=(car value/36 months)+Interest
 Monthly payment=($7,525/36)+$103.03
 Monthly payment=$209.02+$103.03
 Monthly payment=$312.06

 What will Jennifer’s monthly lease payment be?

 The answer is: d. $312.06
Ann [662]3 years ago
3 0
The answer is D..........................
You might be interested in
What is the equation of the line whose y-intercept is 3 and slope is 1? y = x - 3 y = x 3 y = 3x 1 user: what is the slope of a
Lesechka [4]
A)

y = mx + c

<span>y = 1x + 3
</span>
<span>y = x + 3
</span>
b)
y =  2x   ?   5            comparing to y = mx + c,   slope = m

slope = 2.

But for a perpendicular line, we take the negative reciprocal,

= -1/2   =   -1/2
6 0
3 years ago
Read 2 more answers
Marina wants to install security cameras in her store, which has dimensions 48 feet by 48 feet. Each camera can view an area of
mariarad [96]

She would need 18 cameras

8 0
3 years ago
Read 2 more answers
How many different digits are needed for the base 6 system?​
lorasvet [3.4K]

Answer:

0, 1, 2, 3, 4 and 5

Step-by-step explanation:

In a nutshell, base six  is a number system that employs the numbers 0 through 5 instead of 0 through 9 in each digit. As a result, a number that would be stated as 6 in base ten is written as 10. We count one, two, three, four, five, ten, eleven, twelve, thirteen, fourteen, fifteen, twenty, and so on.

6 0
3 years ago
Ivan flips a coin 40 times, How many times can he expect head to appear?
aleksklad [387]
The answer is a lol haha
6 0
3 years ago
Read 2 more answers
34,214 rounds to the nearest thousand
Sonja [21]

Answer:

The answer is 34,000.

4 0
3 years ago
Other questions:
  • Li Na is going to plant 63 tomato plants and 81 rhubarb plants.
    15·2 answers
  • 1. twice the square of the sum of a number and 3 is 98.find the number​
    13·1 answer
  • A pest control co sprays insecticide around a building of a 180ft by 180ft. The spray cost $.11 per ft, how much did the job cos
    12·1 answer
  • Does 3/9 terminate or repeat?
    8·2 answers
  • 3 miles is what percent of 28
    5·1 answer
  • 1. Make sure you show all of your work!
    7·2 answers
  • How do you find the m of 2 sides of a right triangle and only being given one side which is 16
    5·1 answer
  • Geometry question, please help?
    14·1 answer
  • Find the absolute value of the complex number –4.0 – 7.0i.<br><br> 8.06<br> 8.16<br> 8.6<br> 8.61
    9·1 answer
  • A team of biologists is studying a population of 800 fish they find that 15 out of every 75 fish are more than 30cm long based o
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!