Purchase Costs Down payment $ 1,800 Loan payment $ 730 for 36 months Estimated value at end of loan $ 4,600 Opportunity cost interest rate 5 percent Leasing Costs Security deposit $ 760 Lease payment $ 530 for 36 months End of lease charges $ 1,000 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.
Purchase Costs Down payment $ 1,800 Loan payment $ 730 for 36 months Estimated value at end of loan $ 4,600 Opportunity cost interest rate 5 percent Leasing Costs Security deposit $ 760 Lease payment $ 530 for 36 months End of lease charges $ 1,000 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.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
| Purchase Costs | ||
| Down payment | $ 1,800 | |
|---|---|---|
| Loan payment | $ 730 | for 36 months |
| Estimated value at end of loan | $ 4,600 | |
| Opportunity cost interest rate | 5 | percent |
| Leasing Costs | ||
| Security deposit | $ 760 | |
|---|---|---|
| Lease payment | $ 530 | for 36 months |
| End of lease charges | $ 1,000 |
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.
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