The monthly payment for a car lease is $300 for 24 months. the down payment is $1,000. the residual value is 9,000. what is the total cost of the lease? (a) $17,200 (b) $40,700 (c) $8,200

A) $17,200

This is because the residual value and down payment, $9,000 + $1,000 would be $10,000. Next, the monthly $300 multiplied by the 24 months would equal $7,200. Therefore, $10,000 + $7,200 = $17,200.

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