Question

Dave finney leases a vehicle for $245. 50 for 36 months. The deposit is $575. 00, and the title and license fees total $105. 0. What is the total lease cost?

Answer 1

The total lease cost is $680.

What is a lease?

• A lease is a contractual agreement that requires the user to pay the owner for the use of an item.
• Property, buildings, and cars are examples of leased assets. Leasing is also used for industrial or commercial equipment.
• A lease agreement, in general, is a contract between two parties: the lessor and the lessee.
• The lessee acquires the right to use the asset in exchange for regular rental payments from the lessor, who is the legal owner of the asset.
• The lessee also undertakes to follow certain conditions when using the property or equipment.
• A person leasing a car, for example, may agree to the restriction that the car will only be used for personal purposes.

To find the total lease cost:

• The total deposit is $575.
• License fees of $105.
• So, total lease cost = 575 + 105 = $680.

Therefore, the total lease cost is $680.

Know more about lease here:

https://brainly.com/question/26052885

#SPJ4