Determine the following estimate without using a calculator. Then use a calculator to perform the computation necessary to obtain an exact answer. How reasonable is your estimate when compared to the actual answer? You lease a car at $503 per month for 3 years. Estimate the total cost of the lease by rounding the monthly payment to the nearest hundred. The estimate of the total cost of the lease is approximately $. (Round to the nearest hundred as needed.) The actual total cost of the lease is $. How reasonable is your estimate when compared to the actual answer? Select the correct answer below and fill in the answer box to complete your choice. O A. The estimate is a little higher than the actual result. The difference is $ O B. The estimate is a little lower than the actual result. The difference is $

Question
Determine the following estimate without using a calculator. Then use a calculator to perform the computation necessary to obtain an exact answer. How reasonable
is your estimate when compared to the actual answer?
You lease a car at $503 per month for 3 years. Estimate the total cost of the lease by rounding the monthly payment to the nearest hundred.
The estimate of the total cost of the lease is approximately $.
(Round to the nearest hundred as needed.)
The actual total cost of the lease is $.
How reasonable is your estimate when compared to the actual answer? Select the correct answer below and fill in the answer box to complete your choice.
O A. The estimate is a little higher than the actual result. The difference is $
O B. The estimate is a little lower than the actual result. The difference is $
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Transcribed Image Text

Determine the following estimate without using a calculator. Then use a calculator to perform the computation necessary to obtain an exact answer. How reasonable is your estimate when compared to the actual answer? You lease a car at $503 per month for 3 years. Estimate the total cost of the lease by rounding the monthly payment to the nearest hundred. The estimate of the total cost of the lease is approximately $. (Round to the nearest hundred as needed.) The actual total cost of the lease is $. How reasonable is your estimate when compared to the actual answer? Select the correct answer below and fill in the answer box to complete your choice. O A. The estimate is a little higher than the actual result. The difference is $ O B. The estimate is a little lower than the actual result. The difference is $

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