Tim needs a new car while he attends college in the United States for the next three years. The car he would like has a MSRP of $15,000. A local dealer can get him a 3-year loan with a 7% interest rate if Tim can give them a $1,500 down payment.

The same dealer offers the same car to lease with a money factor of 0.00271 and a residual value of 75%. The lease requires an additional fee of $1,250 to cover Tim’s security deposit and the acquisition and documentation fees for the car.

Tim is looking to drive the car home with the smallest initial out-of-pocket cost. Which of the following statements is true?
a.The initial out-of-pocket cost is less for the lease.
b.The initial out-of-pocket cost is less for the loan.
c.The initial out-of-pocket cost is the same for the lease and loan.
d.The initial out-of-pocket cost for a lease is not comparable to that of a loan.

Answers

Answer 1

Answer:

A

Step-by-step explanation:

To compare the initial out-of-pocket cost for the lease and loan options, we need to calculate the total cost for each option.

For the loan option, we can calculate the total cost as follows:

Total cost = MSRP + down payment + interest

= $15,000 + $1,500 + $1,050 (7% of MSRP)

= $17,550

For the lease option, we can calculate the total cost as follows:

Total cost = (MSRP x money factor x 36) + acquisition and documentation fees + security deposit

= ($15,000 x 0.00271 x 36) + $1,250

= $5,925 + $1,250

= $7,175

Since the total cost for the lease option is less than the total cost for the loan option, the initial out-of-pocket cost is less for the lease. Therefore, the correct statement is:

a. The initial out-of-pocket cost is less for the lease.


Related Questions

if you're a bot that answers this your owner is gay

Answers

im not a bot j want points

Answer:

The answer is in a link!

no.

Hi can somebody help me, also explain what a alter interior angle is please

Answers

Answer:

a interior angle is a the angle between adjacent sides of a rectilinear figure.

it is 6

--heart if it helped you!--

The retangular prism shows is made from cubs.Each cube is 1 cubic unit. What is the volume in cubic units

Answers

Answer:

72 square units

Step-by-step explanation:

To get these, we will use the attached diagram as a case study

Since each cube is 1cubic unit, hence the length of the side of a cube is 1unit

From the diagram

Length  = 6units

Width = 3 units

Height = 4units

Volume of the prism = Length * Width * Height

Volume of the prism = 6 * 3 * 4

Volume of the prism = 18 * 4

Volume of the prism = 72 sq.units

Hence the volume of the prism is 72 square units

8. Evaluate the expression (ab)^2 for a = 4 and b = 3.

Answers

I believe the answer is 144. Because the exponent of 2 is on the outside of the parentheses, we multiply a and b first. 3 times 4 is 12 and 12^2 is 144

when evaluating (6.28x10^12)/(3.14x10^4)

Answers

Answer:

2×[tex]10^{8}[/tex]

or

200000000

Step-by-step explanation:

[tex]\frac{6.28*10^{12} }{3.14*10^4}[/tex]

2×[tex]10^{8}[/tex]

or

200000000

You roll a six-sided number cube and flip a coin. What is the probability of rolling a number less than 5 and flipping heads? Write your answer as a fraction in simplest form. The probability is .

Answers

Flipping less than 5 is a 4 out of 6 chance. Flipping heads is a 1 out of 2 chance

Do anyone know this? Please no link <3

Answers

Answer:

40 cm

Step-by-step explanation:

Perimeter = the sum of all sides

1
A bag contains 10 red, 10 blue, 10 green, and 10 yellow M&Ms. An M&M is randomly pulled from the bag and replac
Outcome
Trial
Observed
yellow
2
blue
yellow
red
5
blue
yellow
yellow
3
4
6
7
Which color's observed frequency is closest to its expected frequency?
red
blue
green
O yellow

Answers

Answer:

Blue

Step-by-step explanation:

Expected frequency is:

red 10/40 = 1/4 = 0.25 = 25%

blue 10/40 = 1/4 = 0.25 = 25%

yellow 10/40 = 1/4 = 0.25 = 25%

green 10/40 = 1/4 = 0.25 = 25%

Observed Frequency is:

red 1/7 = 0.14 = 14%

blue 2/7 = 0.28 = 28%              

yellow 4/7 = 0.57 = 57%

green 0/7 = 0.00 = 0%

What is the constant of proportionality between y and x in the graph? (WILL MARK BRAINLIST IF RIGHT!)

Answers

Answer:

2

Step-by-step explanation:

4 can be divided by 2 & 2 can be divided by 2

Between which two integers does [tex]\sqrt{11}[/tex] lie?

Answers

[tex]\sqrt{11}=3.31(appx)[/tex]

3.31 lies b/w 3 and 4

Answer:

[tex]\sqrt{11}[/tex] lies between 3 and 4.

les diviseurs de 25 sont des diviseurs de 15. Vrai ou faux?

Answers

Answer:

c'est faux parce que 3 n'est pas un diviseur de 25 et c'est pour 15 so not all divisor of 25 sommes diviseur de 15

Round the number to the nearest ten place:
1823

Answers

Answer:

1820

Step-by-step explanation:

4 or less let it est 5 or more round up

match the equations to the solutions

Answers

Answer:

A3

B4

C6

D5

E2

F7

G1

Step-by-step explanation:

I matched the letter to number :)

Using the graph, determine the coordinates of the vertex of the parabola

Answers

The answer is (2,-1)

What is the equation of the line that passes through (5,-2) and (-3, 4)?
3x+4 y-7= 0
3x-4 y-7= 0
0-3x+4 y-7 = 0

Answers

3x-4y-7= 0 is the answer

what percent of 19.7 is 24

Answers

Answer:

82.083333333333%

Step-by-step explanation:

Damien deposited $250 in an account that earned 3.75% interest compounded annually. He did not make additional deposits or withdrawals. What will be the balance in this account at the end of 4 years? $127.26 $287.50 $289.66 $370.50

Answers

Answer:

$289.66

Step-by-step explanation:

A=P(1+r)^t

P=250

r= .0375

t= 4

A=250(1+.0375)^4

A= 289.66

$ 289.66 will be the balance at the end of the 4 years.

What is compound interest?

One of the most important ideas in finance is compound interest, which means that the interest you earn each year is added to your principal and grows at a growing rate. It serves as the foundation for everything from a personal savings strategy to long-term stock market development. It also takes into consideration the effects of inflation and the relevance of debt repayment.

Given, Damien deposited $250 in an account that earned 3.75% interest compounded yearly. Hence,

principal amount = 250

rate = 3.75%

time period = 4

From compound interest formula  (A) = [tex]P(1 + \frac{r}{n})^{nt}[/tex]

Final amount (A) =  250 ( 1 + 3.75/ 1)^4 = 289.66

Therefore Damien will have 283.66$ at the end of the four years.

Learn more about compound interest here:

https://brainly.com/question/29335425

#SPJ5

wich is greater 15 or X

Answers

Answer:

x is greater then 15 free nbayoung boy

what wait what’s the question

please someone help me!!! I don’t really understand what the question is asking! Plz no links, we all know they don’t help. If someone answers clearly, then i’ll give the crown to that person!

Answers

Answer:

D=360  M=288 V=648

Step-by-step explanation:

okay so i’m not the best at this kind of stuff but i need to help someone to get answers

COULD SOMEONE PLEASE HELP ME WITH THIS IT'S REALLY IMPORTANT-

Answers

Answer:

b i think

Step-by-step explanation:

Make a graph equation with Y-X = 5

Answers

Lets put this in y=mx+b form
First we add x to both sides in order to isolate y
That leaves us with y=x+5 which is your answer.

Shen invested in a savings bond for 4 years and was paid simple interest at an annual rate of 6%. The total interest that he earned was $2160. How much did he invest?

Answers

Please check the image I sent the answer is $9000

Rewrite 12/5
as a mixed number.

Answers

Answer:2 2/5

Step-by-step explanation:

answer

2 2/5

Explanation

Divide using long division. The whole number portion will be the number of times the denominator of the original fraction divides evenly into the numerator of the original fraction, and the fraction portion of the mixed number will be the remainder of the original fraction division over the denominator of the original fraction.

Triangle GHK has an area of m square units. If the height of the triangle is increased to five times the current height, and the length of the base increased to four times the current length, what will be the area of the larger triangle?

Answers

Answer:

20m square units

Step-by-step explanation:

The area of a traingle  = bh/2............... Equation 1

Where b = lenght of the base, h = heigt of the triangle.

From the question,

The area of triangle GHK = m square units., let the base and the heigth of the triangle be x and y respectively

Therefore,

b = x, h = y

Substitute these values into equation 1

m = xy/2................... Equation 2

If the height of the triangle increase to five times the current height, and the length of the base increase to four times the current length.

Therefore,

height of the larger triangle = 5y, base of the larger triangle = 4x

Substitute these values into equation 1

Area of the larger triangle = (5y×4x)/2

Area of the larger triangle = 20xy/2................. Equation 3

Substitute equation 2 into equation 3

Area of the new triangle = 20m square units.

Help me please!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Answers

Answer:

A

Step-by-step explanation:

The money keeps on decreasing as the days go. As you can see, the dots on the scatter plot keep on getting lower and lower.

Can I get brainliest plzz?

Peter says that 3/4 of a pizza is always the same as 6/8 of a pizza. Nadia says that while they are equivalent fractions, 3/4 and 6/8 of a pizza could represent different amounts. Use a counter example to explain who is correct. Please I need your help. If you help you are nice and god will protect you forever.

Answers

Answer:

Nadia

Step-by-step explanation:

6/8 is 3/4 and both are 75% of a pizza but, the eighths of a pizza is a smaller slice of pizza.

4/4 is four slices of pizza

8/8 is eight slices of pizza        

They are different amounts.

1. Write the balanced chemical equation for the reaction you are performing.

Answers

Don’t open that link it takes lll your information

ANSWER

Mg+O---->MgO

This is the balanced chemical equation

If the student is a domain/inout and the hair color is the range/output how is these two set of relation not a function?

Answers

Answer:

A function is a relation that maps inputs from a set called the domain, into outputs from a set called the range.

Such that each input can be mapped into only one output.

So for example, if we have a relation that maps the input 2 into two different values:

f(2) = 4

f(2) = 8

Then this is not a function.

In the case of the problem, we have a student as the input, and the hair color as the output.

So we will have something like:

f(student) = blond

And if this student decides to change his/her hair color to red?

Then the function becomes:

f(student) = red

So for the same input, we had two different outputs, which means that this is not a function.

We also could have the case where a given student has two colors (Californian for example)

Where again, we would see two different outputs for one single input.

ANSWER QUICK
A backpack is on sale for 15% off the original price of $39.99. What is the sale price?

Answers

Answer:

33.99

Step-by-step explanation:

multiply the original by 100-the sale percentage

(100-15 = 85

.85x39.99

Answer:

$33.99

Step-by-step explanation:

We are given that we have 15%.

What this means is that we subtract 15% from 100%.

Doing that we get 1.00 - 0.15 = 0.85

Therefore the price equals $39.99 * 0.85

The final price is $33.99

The three lines represent the amount of water, over time, in three tanks that are the same size. Which tank is filling most quickly?

Answers

Answer:

Tank A

Step-by-step explanation:

Got it right on Kahn

Other Questions
1. The cleaner cleans the office every day.In passive voice Human perception of the frequency of sound waves is called: Find the surface area or i will kiII myseIf (I give brainliest! :D) hey guy can you help me please 6 friends are going to a bowling alley. They have to pay a fee per game and $2 torent shoes. If they plan on only playing one game, the cost is $48. plz help ----------- Do you think America will have another major political party rise to power? Why or why not? La comida en el restaurante ______________ deliciosa.a. estuvob. pudoSelected:c. fui This answer is incorrect.d. tuve Only the city-state of athens resisted the persian invasion of the greece during the persian wars Last year 5200 people entered a contest to win free swimming lessons at the rec center. This year there was a 14% increase in the number of entrees. How many entries were there this year? What is the gender of the persona in the poem Being Independent by Rupi Kaur? PLEASE HELP ME ILL MARK BRAINLIEST if you actually helpmatch the label to the diagram please help me its for a testdo it correctly please number 23-28 A very long straight current-carrying wire produces a magnetic field of 20 mT at a distance d from the wire. To measure a field of 5 mT due to this wire, you would have to go to a distance from the wire of A very long straight current-carrying wire produces a magnetic field of 20 mT at a distance d from the wire. To measure a field of 5 mT due to this wire, you would have to go to a distance from the wire of:_____.a. 4d. b. 16d. c. 2d. d. 8d. Read the excerpt from President Ronald Reagans Address at Moscow State University.But progress is not foreordained. The key is freedomfreedom of thought, freedom of information, freedom of communication. The renowned scientist, scholar, and founding father of this university, Mikhail Lomonosov, knew that. "It is common knowledge," he said, "that the achievements of science are considerable and rapid, particularly once the yoke of slavery is cast off and replaced by the freedom of philosophy." You know, one of the first contacts between your country and mine took place between Russian and American explorers. The Americans were members of Cook's last voyage on an expedition searching for an Arctic passage; on the island of Unalaska, they came upon the Russians, who took them in, and together with the native inhabitants, held a prayer service on the ice.In this excerpt, President Reagan expresses his opinion that the key to progress is freedom. This isa substantiated opinion because Reagan quotes an expert.a substantiated opinion because Reagan lists many freedoms.an unsubstantiated opinion because Reagan shares personal feelings.an unsubstantiated opinion because Reagan gives a historical example Who Knows this song???Shorty Be MineSong by Pretty Ricky What was the Alien and Sedition Act? What did it do? Calculate the number of copper atoms in a 63.55 gsample of copper. Which of the following is an example of juxtaposition to support O'Brien's purpose in the chapter "Speaking of Courage"?A. The peaceful town and the violence of VietnamB. Bowker's car and the walking boysC. The peaceful town and the violence of the fireworks showD. The quiet lake and the loud fireworks show What kingdom (Plantae, Fungi, Animalia, or Protista) does each organism belong to? (no links) A mentoring program was set up for new hospital staff. The purpose of the mentoring program is toO build working relationships.O establish an authoritarian leader.foster competition and improve policy.O increase delegation of roles. I don't UNDERSTAND THIS PROBLEM PLEASE HELP ME SOLVE IT