If you have a balance of $1,000 on your credit card, and the interest rate is 17¾% a year, in order to pay off the $1,000 in 5 y
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Answer:
He will have to come up with a bigger down payment
His monthly payments will be higher.
If Jamir leases the car, his down payment will be $1500.
If he purchases the car, his down payment will be 10% of purchase price which will be .
Hence his down payment will be higher if he purchases the car.
If Jamir leases the car, his monthly payments will be $290, as against the monthly payment of $432.46, which is higher.