The Bentley Azure Can Be Leased for Four Years for $0

question 70

Multiple Choice

The Bentley Azure can be leased for four years for $0 down and 48 monthly payments of $4,000 (due at the beginning of each month) .Today is the day that the first payment is due.If,instead,you save the payments in a bank account at the nominal annual rate of 7.5%,then how much money will you have at the end of the fourth year? (Round answer to the nearest whole dollar)

• A) $224,498
• B) $223,103
• C) $221,984
• D) $222,768
• E) $223,326

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Definitions:

Waters Contained

Bodies of water that are held or confined within a certain area, as in reservoirs, tanks, or naturally contained basins.

Assignee of a Lease

The party to whom lease rights and obligations are transferred, assuming the role of the original lessee.

Obligation to Pay

A legal or moral duty to settle a debt or fulfill a contractual payment responsibility.

Tenant's Use

The manner in which a tenant is permitted by lease to utilize the rented property.