1. The agreement for leasing a new car with a purchasing price of $21 000 includes...

   

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1. The agreement for leasing a new car with a purchasing price of $21 000 includes a down payment of $1500 and a monthly payment of $325.00 over four years. At the end of the four years, you could own the car by paying $7500. If you decided to own the car at the end of the lease, what is the total cost you would pay for the car? (Assume all costs and payments include taxes.) 3) (T- 2. A car dealership is selling a new car for $16 495 plus taxes. The dealership is offering financing at an annual interest of 3.6%, compounded monthly, over five years. You have saved $4500 for a down payment and will finance the rest. What will your monthly payments be for the car? You may use the FORMULA or the TVM SOLVER. (A-3) 1. The agreement for leasing a new car with a purchasing price of $21 000 includes a down payment of $1500 and a monthly payment of $325.00 over four years. At the end of the four years, you could own the car by paying $7500. If you decided to own the car at the end of the lease, what is the total cost you would pay for the car? (Assume all costs and payments include taxes.) 3) (T- 2. A car dealership is selling a new car for $16 495 plus taxes. The dealership is offering financing at an annual interest of 3.6%, compounded monthly, over five years. You have saved $4500 for a down payment and will finance the rest. What will your monthly payments be for the car? You may use the FORMULA or the TVM SOLVER. (A-3)

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1 To find the total cost of owning the car after leasing it we need to calculate the total cost of t... View the full answer