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Purchase Costs Down payment $2,100 Loan payment $530 for 36 months Estimated value at end of loan $4,900
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- Purchase Costs Leasing Costs Down payment $ 1,900 Security deposit $ 1,040 Loan payment $ 550 for 36 months Lease payment $ 400 for 36 months Estimated value at end of loan $ 5,000 End of lease charges $ 900 Opportunity cost interest rate 5 percent Based on the costs listed in the table above, calculate the costs of buying and leasing a motor vehicle. (Round your answers to the nearest whole number.) Buying & Leasing Total purchase cost Total leasing costBased on the following, calculate the costs of buying versus leasing a motor vehicle. Purchase Costs Leasing Costs Down payment: $1,500 Security deposit: $500 Loan payment: $450 for 48 months Lease payment: $450 for 36 months Estimated value at end of loan: $4,000 End-of-lease charges: $600 Opportunity cost interest rate: 4 percentUse the following data: Purchase Costs Leasing Costs Down payment: $4,800 Security deposit: $1,600 Loan payment: $1,440 for 48 months Lease payment: $1,440 for 48 months Estimated value at end of loan: $5,100 End-of-lease charges: $765 Opportunity cost interest rate: 2 percent Calculate the costs of buying versus leasing a motor vehicle. Cost of buying $ Cost of leasing $
- financial math A vehicle is financed as follows: Down payment $8,000.00 and three quarterly installments of $5,000.00. A buyer proposes: One down payment plus an installment of $8,000.00 in nine months. The agreed rate was 1% per quarter. What is the value of the entry proposed by the buyer, calculated on today's date and commercial criteria?Based on the following data, prepare a financial comparison of buying and leasing a motor vehicle with a $24,000 cash price: (LO 6.2) Down payment (to finance vehicle), $4,000 Down payment for lease, $1,200 Monthly loan payment, $560 Monthly lease payment, $440 Length of loan, 48 months Length of lease, 48 months Value of vehicle at end of loan, $7,200 End-of-lease charges, $600 What other factors should a person consider when choosing between buying or leasing?You end up leasing $18,842.36 for 4 years. Your down payment was $1,455. The interest rate is 1.32% compounded monthly. The lease payment is monthly and due at the beginning of the month. After 4 years, there is residual owing on a leased vehicle. You have the option of returning the vehicle after a lease term or buying it out. Assume you choose to purchase the vehicle after the lease term and have saved for this opportunity. You pay the $12,317 residual plus tax at 12%. What is the total amount you have paid to own this car?
- Use the loan amortization table: Purchase price of a used car $5,533, Down payment $1,153, number of monthly payments 48, Amount financed $4,380, Total of monthly payments $5,589.76, Total finance charge $1,209.76, APR 13%. What is the monthly payment by table? What is the monthly payment by formula?Based on the car you chose (2021 Jeep Wrangler), state: 1. The total price of the car: $38, 5302. Down payment percent: 20%3. Interest rate: 3.79%4. Loan term: 72 Months Calculate: 1. Down payment amount.2. Amount financed (loan amount).3. Monthly payment.4. Total interest paid.5. Amortization schedule for the first three months.Buy vs Lease Car Buy: Price= $20,000. 5% Sales Tax Lease: Pay 36 installments to dealer ($750 per month). Purchase at end of lease term at $8000. Whether buy or lease, you expect to sell at end of year 7 for $5000. Money Market rate =5% Tax rate= 20% Wat Do: Compare the PV of Cost of Buy vs PV of Cost of Lease
- The purchase price of a condominium is 121,000$. A down payment of 26% is made. The bank charges 715$ in fees plus 3 1/2 points. Find the total of the down payment and the closing cost. (Round answer to nearest cent)44. Subject :- Accounting is it correct? To calculate the total cost of leasing a hybrid vehicle for 5 years, we need to consider the monthly lease payment and the down payment. Here's the breakdown: Lease Payment: Monthly Lease Payment: $80 Lease Term: 5 years (60 months) Total Lease Payments: $80/month * 60 months = $4,800 Down Payment: Down Payment: $3,000 Total Cost of Lease: Total Cost of Lease = Total Lease Payments + Down Payment Total Cost of Lease = $4,800 + $3,000A furniture company allows customers to purchase household furnishings with an in-store loan, pay with cash or a credit card, or Rent-To-Own with a lease agreement. A customer chooses furniture worth $3,225.00 including tax and chooses to Rent-To-Own. Rent to Own Furniture Warehouse No down payment is required. The monthly lease payment is $156.99 for 2 years. Calculate the total cost to own the furniture using the Rent-To-Own option. What is the amount of the finance charge on this purchase? What simple interest percentage rate is this finance charge? Recall: