What Would Be the Total Cost of Leasing a Vehicle

question 100

Multiple Choice

What would be the total cost of leasing a vehicle for four years that requires a security deposit of $1,000 (which would be withdrawn from your portfolio, which earns 9% per year) , has monthly lease payments of $500, and has a mileage restriction of 20,000 with excess mileage resulting in a 10 cents per mile charge. Assume that over the life of the lease you exceed the mileage limitations by a total of 8,000 miles.

• A) $24,000
• B) $24,360
• C) $24,800
• D) $25,160

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