Purchase Costs Down payment Loan payment Estimated value at end of loan Opportunity cost interest rate Leasing Costs Security deposit Lease payment End of lease charges $1,600 $ 430 for 36 months $ 4,600 6 percent $ 880 $ 370 for 36 months $1,470 Based on the costs listed in the table above, calculate the costs of buying and of leasing a motor vehicle. Note: Round your answers to the nearest whole number. Buying and Leasing Total purchase cost Total leasing cost
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- Problem 8-9 Buying versus Leasing a Motor Vehicle [LO8-2] Purchase Costs Down payment Loan payment Estimated value at end of loan Opportunity cost interest rate Leasing Costs Security deposit Lease payment End of lease charges $ 1,700 $ 440 for 36 months $ 5,800 8 percent $ 890 $ 550 for 36 months $ 870 Based on the costs listed in the table above, calculate the costs of buying and of leasing a motor vehicle. Note: Round your answers to the nearest whole number. Buying and Leasing Total purchase cost Total leasing costProblem 8-9 Buying versus Leasing a Motor Vehicle [LO8-2] Purchase Costs Down payment Loan payment Estimated value at end of loan Opportunity cost interest rate Leasing Costs Security deposit $ 1,900 Total purchase cost Total leasing cost $550 for 36 months 16,985 16,340 X $5,000 5 percent Lease payment End of lease charges Based on the costs listed in the table above, calculate the costs of buying and of leasing a motor vehicle. Note: Round your answers to the nearest whole number. $ 1,040 Answer is complete but not entirely correct. Buying and Leasing $ $ $400 for 36 months $ 900roblem 8-9 Buying versus Leasing a Motor Vehicle [LO8-2] Purchase Costs Down payment Loan payment Estimated value at end of loan Opportunity cost interest rate Buying & Leasing $ $ $ 6,100 Total purchase cost Total leasing cost 2,400 540 for 36 months 5 percent Leasing Costs Security deposit Lease payment End of lease charges Based on the costs listed in the table above, calculate the costs of buying and leasing a motor vehicle. (Round your answers to the nearest whole number.) $ 650 $ 520 for 36 months $ 600 Exit
- Purchase Costs Down payment Loan payment Leasing Costs Security deposit Lease payment End of lease charges $ $ $ 730 for 36 months $1,100 890 2,150 2$ $ 850 for 36 months Estimated value at end of loan 6,300 Opportunity cost interest rate 3 percent Based on the costs listed in the table above, calculate the costs of buying and leasing a motor vehicle. (Round your answers to the nearest whole number.) Buying & Leasing Total purchase cost Total leasing costPurchase Costs Down payment Loan payment Estimated value at end of loan Opportunity cost interest rate Leasing Costs Security deposit Buying and Leasing Total purchase cost Total leasing cost $ 1,700 + $ 620 for 36 months $ 4,500 Lease payment $ 530 for 36 months. $ 740 End of lease charges. Based on the costs listed in the table above, calculate the costs of buying and of leasing a motor vehicle. Note: Round your answers to the nearest whole number. 4 percent $ 1,180 Pro 4 of 4 Next ChePurchase Costs Down payment Loan payment Estimated value at end of loan Opportunity cost interest rate Leasing Costs $ 1,500 $ 690 for 36 months $ 4,300 6 percent Security deposit Lease payment End of lease charges $ 1,130 $ 1,080 $400 for 36 months Based on the costs listed in the table above, calculate the costs of buying and of leasing a motor vehicle. Note: Round your answers to the nearest whole number. Buying and Leasing Total purchase cost Total leasing cost
- Purchase Costs Down payment $2,100 Loan payment $530 for 36 months Estimated value at end of loan $4,900 Opportunity cost interest rate 7 percent Leasing Costs Security deposit $1,410 Lease payment $520 for 36 months End of lease charges $1,430 Based on the costs listed in the table above, calculate the costs of buying and of leasing a motor vehicle. Note: Round your answers to the nearest whole number. find total purchase cost and total leasing cost.Purchase Costs Down payment Loan payment Estimated value at end of loan Opportunity cost interest rate Leasing Costs Security deposit Lease payment End of lease charges Buying and Leasing $ 2,100 Total purchase cost Total leasing cost $ 530 for 36 months $ 4,900 7 percent $ 1,410 $ 520 for 36 months Based on the costs listed in the table above, calculate the costs of buying and of leasing a motor vehicle. Note: Round your answers to the nearest whole number. $ 1,430CENGAGE MINDTAP Ch 07: Assignment - Using Consumer Loans 12. Buy on time or pay cash? You are going to make a substantial purchase. You have enough money to pay cash, but don't know if that's the way to make best use of your assets. Maybe you should take out an installment loan to make the purchase and invest the cash you would otherwise have used to pay for it. Use the information provided to complete the following worksheet and analyze how the numbers work out most favorably for you. For simplicity, compounding is ignored in calculating both the cost of interest and interest earnings. [Note: Enter your dollar answers rounded to the nearest two cents and precede numbers that are less than zero (0) with a minus sign (-).] Q Search this course ? Khloe ✓ A-Z
- Lease ersus purchase car decision. use wor sheet 5.1. Everett Adams is trying to decide whether to lease or purchase a new car costing $18,000. If he leases, he’ll have to pay a $600 security deposit and monthly payments of $450 over the 36-month term of the closed-end lease. On the other hand, if he buys the car, then he’ll have to make a $2,400 down payment and will finance the balance with a 36-month loan requiring monthly payments of $515; he’ll also have to pay a 6 percent sales tax ($1,080) on the purchase price, and he expects the car to have a residual value of $6,500 at the end of three years. Use the automobile lease versus purchase analysis form in Worksheet 5.1 to find the total cost of both the lease and the purchase, and then recommend the best strategy for Everett.AsapQuestion content area top Part 1 Compute the monthly payments for a vehicle that costs $14 comma 10014,100 if you financed the entire purchase over 44 years at an annual interest rate of 6.256.25 percent. Also, calculate the loan payments assuming rates of 5.255.25 percent and 7.257.25 percent. Compare the total amount spent on the vehicle under each assumption. Note: Round intermediate computations to at least five (5) decimal places. Click on the table icon to view the Monthly Installment Loan Payment Factor (MILPF) table: LOADING... . Question content area bottom Part 1 The monthly payments for a vehicle that costs $14 comma 10014,100 if you financed the entire purchase over 44 years at an annual interest rate of 6.256.25% is $332.76332.76. (Round to the nearest cent.) Part 2 The total amount spent on the vehicle if financed for 44 years at an annual rate of 6.256.25% is $15972.4815972.48. (Round to the nearest cent.) Part 3 The monthly payments for a…