Question

You would like to lease a car worth $52,696 for a three-year period. The leasing company told you that after three years, the car would have a residual value of $39,826. What percentage represents the residual value of your leased car?

Answer 1

Answer: 75.58%

Step-by-step explanation:

Since we are given the information that the worth of the car will be leased for $52696 and the residual value will be $39826, the percentage that represents the residual value of the leased car will be:

= (39826 / 52696) × 100

= 0.7558 × 100

= 75.58%