Suppose you obtain a five-year lease for a Porsche and negotiate a selling price of $157,000. the annual interest-rate is 8.4%, the residual value is $76,000, and you make a down payment of $5000. Find each of the following. A) the net capitalized cost B) the money factor (round to 4 decimal places) C) the average monthly finance charge (round to the nearest cent) D) the average monthly depreciation (round to the nearest cent) and E) the monthly lease amount (round to the nearest cent)
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Suppose you obtain a five-year lease for a Porsche and negotiate a selling price of $157,000. the annual interest-rate is 8.4%, the residual value is $76,000, and you make a down payment of $5000. Find each of the following. A) the net capitalized cost B) the money factor (round to 4 decimal places) C) the average monthly finance charge (round to the nearest cent) D) the average monthly
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