Question

You would like to lease a car worth $61,815 for a three-year period. The leasing company told you that after three years, the car would have a residual value of $44,999. What percentage represents the residual value of your leased car?

Answer 1

72.8%

Explanation:

Percentage residual value = (residual value / worth of the car) x 100

(44,999 / 61,815) X 100 = 72.8%