Calculate the monthly lease payment for a 36-month lease on a car with a $29,000 MSRP, a 79% residual value, and a money factor of 0.00365.
a.
$358.64
b.
$128.08
c.
$169.17
d.
$105.85

Solution:

Given that,

MSRP of car = $29,000

Percentage of residual = 79% =

Find residual value

Find the depreciation amount

Depreciation amount = cost - residual value

Depreciation amount =  29000 - 22910 = 6090

Find Base monthly lease payment

Find Interest per month

Find monthly lease payment

Monthly lease payment = Base monthly lease payment + Interest per month

Monthly lease payment = 169.1667 + 189.4715 = 358.6382

Thus monthly lease payment is $ 358.64

Option A is correct

358.64

Step-by-step explanation:

just took the test on edge. Hope this helps❤️

from the figure we get,

the x axis shows   the months and,

the y-axis shows the number of satisfied customer.

each line or each cell in upward direction (y-axis) shows 500.

the appropriate scale for the y - axis is: -

a = 2000 customers

b = 4000 customers

c = 6000 customers

d = 8000 customers

e = 10000 customers

f = 12000 customers

g = 14000 customers