Author Question: What is the total cost of leasing a vehicle for three years that requires a security deposit of $300 ... (Read 61 times)

PhilipSeeMore · **on:** Apr 14, 2019

What is the total cost of leasing a vehicle for three years that requires a security deposit of $300 (would earn 3% interest in a money market account otherwise), has monthly lease payments of $385, and has a mileage restriction of 10,000 with excess mileage resulting in a 10 cents per mile charge. Assume that over the life of the lease you exceed this limitation by 8,000 miles.

◦ $14,160
◦ $13,860
◦ $14,687
◦ $14,660

billybob123 · **Reply #1 on:** Apr 14, 2019

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