Question

The monthly payment for a car lease is $530 for 18 months. The down payment is $2,000. The residual value is $7,000. What is the total cost of the lease? $18,540 $20,540 $25,540

Answer 1

The answer would be $18,540 because you multiply 530 by 18 which gives you 9540 then you add 9000 to 9540 which adds up to $18,540

Answer 2

"$18,540" multiply 530 x 18 = 9540

9540 + 9000 = 18540

I hope this helps!