Enrico Alonso recently leased a new luxury car. His payments are $658 per month for 60 months. His deposit was $6,000. He paid a

Question

Anton [14]

3 years ago

12

Enrico Alonso recently leased a new luxury car. His payments are $658 per month for 60 months. His deposit was $6,000. He paid a

$105 title fee and an $80 license fee. What is his total lease cost?

Mathematics

1 answer:

Ratling [72] · Answer 1 · 2022-04-10T22:41:38+03:00

This is the concept of financial arithemetic;
We are required to calculate the total cost of leasing a new luxury car.
Here we shall use the formula;
total cost=[deposit+title fee+licence]+(monthly payment*number of months)
deposit=$658
title fee=$105
license=$80
monthly payments=6000
number of months=60
thus;
total cost=[6000+105+80]+[658*60]
total cost=6185+39,480
total cost=$45,665