Answer:
$16900
Step-by-step explanation:
Tina made a down payment = $1,200
Her monthly payment amount = $200 for 36 months. S
The total amount = Down payment + monthly total amount for 36 months
= $1,200 + 36 * $200
= $1,200 + $7,200
= $8,400.
Finally we will add the residual value: $8,400 + $8,500
= $16,900.
The total cost of the lease = $16,900.
Thank you.
Answer:
Total cost of the lease is 16,900 dollars.
Step-by-step explanation:
Given the down payment is 1200 dollars.
Given the monthly payment is 200 dollars for 36 months.
Given the residual value is 8500 dollars.
Total cost of the lease is the sum of down-payment, total of all monthly payments, and residual value.
Total cost of the lease = Down payment + Total of all monthly payments + Residual value.
Total cost of the lease = 1200 + 200*36 + 8500.
Total cost of the lease = 1200 + 7200 + 8500 = 16,900 dollars.
