Question
5. Determine the total cost of each new car lease. a) 5000 down and 42 payments of 614 b) no money down and 60 payments of 277
Solution
4.1
(336 Votes)
Coraline
Veteran ยท Tutor for 11 years
Answer
### a)
16620
Explanation
## Step 1: Calculate the total cost of the lease in part (a)### We are given a down payment of
614. The total cost is the down payment plus the sum of the monthly payments. This can be represented as
.## Step 2: Perform the multiplication###
## Step 3: Perform the addition###
## Step 4: Calculate the total cost of the lease in part (b)### We are given no down payment and 60 monthly payments of
60 \times 277
60 \times 277 = 16620$