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would be the total cost of leasing a vehicle for four years that requires a security deposit of $1,000 (which would be withdrawn from your portfolio, which earns 9% per year) , has monthly lease payments of $500, and has a mileage restriction of 20,000 with excess mileage resulting in a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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Definitions:

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

Phobic Responses

Exaggerated fears triggered by specific objects, situations, or activities, resulting in intense anxiety or avoidance behaviors.

Mowrer

Psychologist O.H. Mowrer, known for his theories on learning and contributions to behavior therapy, especially in the treatment of fears and enuresis.

Obsessive-Compulsive Disorder

A mental disorder characterized by persistent, unwanted thoughts (obsessions) and repetitive behaviors (compulsions).