Using the Following Information, What Is the Cost to Lease $\quad$

question 79

Multiple Choice

Using the following information, what is the cost to lease a car? * Security deposit $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$ $\$300$
* Monthly lease payment $\quad$$\quad$$\quad$$\quad \$ 300$ per month for a five-year lease
* Opportunity cost of down payment $\$ 300 \times$ loan period (in years) $\times 2 \%$ interest
* End-of-lease charges $\quad$$\quad$$\quad$$\quad$ $\quad \$ 500$

• A) $18,000
• B) $18,530
• C) $18,560
• D) $18,830
• E) $19,030

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Definitions:

Circuit

In electronics, a circular path through which an electric current flows or moves; in legal terms, a geographical area of jurisdiction for federal courts.

General Jurisdiction

The court's authority to hear all kinds of legal disputes, typically regarding cases that are not limited by the subject matter or geographic area.

Trial Court

A court of law where cases are tried in the first instance, as opposed to an appeals court.

State's Trial

A legal proceeding held in a state court, which can involve criminal, civil, or administrative matters within that state's jurisdiction.