subject
Mathematics, 06.11.2020 01:00 cdavis379

Tim needs a new car while he attends college in the United States for the next three years. The car he would like has a MSRP of $15,000. A local dealer can get him a 3-year loan with a 7% interest rate if Tim can give them a $1,500 down payment. The same dealer offers the same car to lease with a money factor of 0.00271 and a residual value of 75%. The lease requires an additional fee of $1,250 to cover Tim’s security deposit and the acquisition and documentation fees for the car.

Tim is looking to drive the car home with the smallest initial out-of-pocket cost. Which of the following statements is true?
a.
The initial out-of-pocket cost is less for the lease.
b.
The initial out-of-pocket cost is less for the loan.
c.
The initial out-of-pocket cost is the same for the lease and loan.
d.
The initial out-of-pocket cost for a lease is not comparable to that of a loan.

ansver
Answers: 2

Another question on Mathematics

question
Mathematics, 21.06.2019 21:10
The vertices of a triangle are a(7.5), b(4,2), and c19. 2). what is
Answers: 1
question
Mathematics, 21.06.2019 21:40
The point a is at –2 and the point b is at 7. marissa would like to divide this line segment in a 4: 3 ratio, and she would like to use the formula x = (x2 – x1) + x1. what values should she substitute into the formula? a = a + b = x1 = x2 =
Answers: 2
question
Mathematics, 22.06.2019 04:10
3.(03.01)the domain of the following relation r {(6, -2), (1, 2), (-3, -4), (-3, 2)} is (1 point)o {-4, -2, 2)^{-3, -3, 1,6}{-4, -2, 2, 2){-3, 1, 6)4.(03.01)dulan created color nanele for a wall usinn a mix of only arepn and blue naints haplotted the quantidescription+
Answers: 3
question
Mathematics, 22.06.2019 04:30
Jocelyn estimates that a piece of wood measures 5.5 cm. if it actually measures 5.62 cm, what is the percent error of jocelyn’s estimate? a. 2.13% b. 2.18% c. 12% d. 46.83%
Answers: 1
You know the right answer?
Tim needs a new car while he attends college in the United States for the next three years. The car...
Questions
question
English, 10.03.2021 19:40
question
Mathematics, 10.03.2021 19:40
question
Mathematics, 10.03.2021 19:40
question
Social Studies, 10.03.2021 19:40
question
Mathematics, 10.03.2021 19:40
question
Mathematics, 10.03.2021 19:40
Questions on the website: 13722365