Maggie Holden’s 2-year car lease costs $597 a month. She had to pay a $600 security deposit that she got back at the end of the lease. She made a down payment of $500 and paid fees of $125 to get the lease. What was the net cost of the lease to Maggie at the end of the lease?

Net cost of the car lease Maggie has to pay at the end of lease is $.

Step-by-step explanation:

Given that,

2-years car lease cost per month is $597. Security amount which is refundable at the end of lease is $600. down payment and paid fees of lease made by her are $500 and $ 125.

To find:- Net cost of the lease to Maggie at the end of the lease?

From the question:-

Cost of lease per moth is $597.

security deposit amount is $600       (Refundable)

down payment made by her is $500.

and lease paid fees is $125.

Calculating the Net cost :-

              Net cost = cost of lease for 2-years - down payment + security                                  

                                  deposit + lease paid fees

                             =

                             =

                             =

Here the net cost of lease for 2 years is $ 14553.

But the security amount is refundable So,

              Final cost is = $

Hence,

Net cost of the lease Maggie has to pay at the end of lease is $.

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