Ralph is leasing a $32,000 car for 36 months. The terms of his lease include an 8.5% interest rate (money factor of 0.00354) and a residual value of 72%. Determine Ralph’s approximate monthly lease payment.
a.
$145.00
b.
$230.40
c.
$248.89
d.
$443.73

Question

24-06-2024
Business

Answered

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Ralph is leasing a $32,000 car for 36 months. The terms of his lease include an 8.5% interest rate (money factor of 0.00354) and a residual value of 72%. Determine Ralph’s approximate monthly lease payment.
a.
$145.00
b.
$230.40
c.
$248.89
d.
$443.73

Sagot :

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