Instructions: Instructions: Please show as much work as possible to clearly show the steps you used to find the solution.   Part 1: In M4LE1 Hand-in Assignment you were to select a vehicle you would like to drive. In this hand-in assignment you are to choose a similar (or same) vehicle and find the cost to lease it. Describe the vehicle by stating make, model, special features, colour, et cetera. Find the price of the vehicle. You may look for the price at a dealer, in a newspaper, on TV, on the Internet, or source of your choice. Be sure to indicate the price and where you found the information.   Assume that you have $5000 for a down payment to apply to the lease. Calculate the total cost of leasing the vehicle, including the down payment and applicable taxes. You may want to use a leasing calculator. Be sure to show how you arrived at your answer.     Part 2: Compare the cost of buying the vehicle using your information from M4LE1 to the cost of leasing determined in Part 1.  Would you prefer to buy or lease this vehicle?  Give 2 reasons to support your choice.

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter2: Functions And Graphs
Section2.CR: Chapter Review
Problem 87E
Question

Instructions: Instructions: Please show as much work as possible to clearly show the steps you used to find the solution.

 

Part 1:

In M4LE1 Hand-in Assignment you were to select a vehicle you would like to drive. In this hand-in assignment you are to choose a similar (or same) vehicle and find the cost to lease it. Describe the vehicle by stating make, model, special features, colour, et cetera. Find the price of the vehicle. You may look for the price at a dealer, in a newspaper, on TV, on the Internet, or source of your choice. Be sure to indicate the price and where you found the information.

 

Assume that you have $5000 for a down payment to apply to the lease. Calculate the total cost of leasing the vehicle, including the down payment and applicable taxes. You may want to use a leasing calculator. Be sure to show how you arrived at your answer.  

 

Part 2:

Compare the cost of buying the vehicle using your information from M4LE1 to the cost of leasing determined in Part 1.  Would you prefer to buy or lease this vehicle?  Give 2 reasons to support your choice.

 

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