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The agreement for leasing a new car with a purchase price of $21,000.00 includes a down payment of $1,500.00 and a monthly payment of $325.00 over four years. At the end of the four years, you could own the car by paying $7,100.00. If you decided to own the car at the end of the lease, how much would you be paying in total? You may assume all of the costs and payments are inclusive of tax.

The agreement for leasing a new car with a purchase price of $21,000.00 includes a down payment of $1,500.00 and a monthly payment of $325.00 over four years. At the end of the four years, you could own the car by paying $7,100.00. If you decided to own the car at the end of the lease, how much would you be paying in total? You may assume all of the costs and payments are inclusive of tax.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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9. The agreement for leasing a new car with a purchase price of $21,000.00 includes a down payment of $1,500.00 and a monthly payment of $325.00 over four years. At the end of the four years, you could own the car by paying $7,100.00. If you decided to own the car at the end of the lease, how much would you be paying in total? You may assume all of the costs and payments are inclusive of tax.
Transcribed Image Text:9. The agreement for leasing a new car with a purchase price of $21,000.00 includes a down payment of $1,500.00 and a monthly payment of $325.00 over four years. At the end of the four years, you could own the car by paying $7,100.00. If you decided to own the car at the end of the lease, how much would you be paying in total? You may assume all of the costs and payments are inclusive of tax.
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