1.)

Find the interest paid on a 3-year lease for a $25750 car if the car's residual value is $17591 and the lease has an annual interest rate of 4%.

Round your answer to the nearest dollar.

2.)

Find the interest paid on a 3-year lease for a $26145 car if the car depreciates at an annual rate of 11% and the lease has an annual interest rate of 5.3%.

Round your answer to the nearest dollar.

Answer rating: 100% (QA)

Here are the solutions to both parts of the question 1 Interest Paid on a 3Year Lease Car Value 2575... View the full answer