On March 31, 2019, John signed a three-year lease on his car. The car cost $30,000 and he made a 15% down payment toward the lease; his monthly lease payments are made at the beginning of the month. He is paying interest of 4.0% on the lease and plans to buy the car for the 20% buyout when the lease expires. The car has a current market value of $16,000.

What are his monthly payments?

How much does he owe at the December 31, 2020?

Answer rating: 100% (QA)

To calculate Johns monthly lease payments and the amount he owes at December 31 2020 well need to br... View the full answer