OpenStax, Contemporary Mathematics §6.11 Buying or Leasing a Car · Example 8 · Arithmetic · Money & interest
Buying or Leasing a Car · Example 8
Calculate the lease payments for car with the following price, residual price, length of lease, and money factor or APR.
(a) Price is $28,344, residual price is $18,140.16, 24-month lease, money factor is 0.000025.
(b) Price is $22,500, residual price is $13,050, 36-month lease, APR is 7.5%.
OpenStax, Contemporary Mathematics · §6.11 Buying or Leasing a Car · Example 8
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