Question

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

due at signing?
Terms:
• Length of lease = 36 months
• MSRP of the car = $22,750
• Purchase value of the car after lease = $16,900
• Down payment = $1800
• Monthly payment = $425
• Security deposit = $375
• Acquisition fee = $300

Answer 1

Explanation:

2900

Answer 2

$2900

Explanation:

• Length of lease = 36 months

• MSRP of the car = $22,750

• Purchase value of the car after lease = $16,900

• Down payment = $1800

• Monthly payment = $425

• Security deposit = $375

• Acquisition fee = $300

The amounts in bold above (last 4 lines) are usually due at signing. Usually there is also sales tax, but that is not mentioned here.

Total due at signing: $1800 + $425 + $375 + $300 = $2900

Answer: $2900