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Author Question: What would be the total cost of leasing a vehicle for four years that requires a security deposit of ... (Read 28 times)

tichca

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What would be the total cost of leasing a vehicle for four years that requires a security deposit of $1,000 (which would be withdrawn from your portfolio, which earns 9% per year), has monthly lease payments of $500, and has a mileage restriction of 20,000 with excess mileage resulting in a 10 cents per mile charge. Assume that over the life of the lease you exceed the mileage limitations by a total of 8,000 miles.


◦ $24,000
◦ $24,360
◦ $24,800
◦ $25,160


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Marked as best answer by tichca on Apr 14, 2019

Carliemb17

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