Question: Assignment 5.2: Used Vehicles and Using Vehicles (continued) 7. A sport utility vehicle (SUV) sells for $34,200 and leases for $348 plus tax per month

Assignment 5.2: Used Vehicles and Using Vehicles (continued) 7. A sport utility vehicle (SUV) sells for $34,200 and leases for $348 plus tax per month for a lease term of 24 months. A down payment of $3500 is required. The guaranteed residual value of the vehicle is $22 126. (4 marks) a) Calculate the value of the depreciated vehicle after two years. b) How does the depreciated value of the vehicle after two years compare to the guaranteed residual value

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