Question

Given below are lease terms at the local dealership. What is the total cash

due at signing?
Terms:
• Length of lease = 24 months
• MSRP of the car = $17,500
• Purchase value of the car after lease = $9900
• Down payment = $2400
• Monthly payment = $425
• Security deposit = $375
• Acquisition fee = $500

Answer 1

$3700

Step-by-step explanation:

Took the test, this is the correct answer.

Answer 2

$3700

Step-by-step explanation:

The items that have to be paid for at the signing include

1. The deposit: $,2,400.00

2. Monthly payments : $425.00

3. Security deposit: $375.00

4. Acquisition fee: $ 500.00

Total due $3,700.00