85.5k views
3 votes
Need help with this math

Need help with this math-example-1
User Bor Laze
by
8.6k points

1 Answer

0 votes

Hi,

Here is the solution.

3 years = 36 months

Leased amount for 3 years = $3000 + 36*350

= $3000 + $12600

Leased amount for 3 years = $15600

Residual value = $12000

Assume you didn't buy the car, you took it for lease, so your expense = $15600.

Now Assume you bought the car for $21,000.

After using 3 years, you can sell it for $12000.

Your expense = $21,000 - $12,000 = $9000.

Conclusion:

It is less expensive to buy the car.

The cost for buying the car and selling it after 3 years = $9000.

Hope you will understand the steps. Thank you :)

User FoxyBOA
by
8.9k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories