Question

Suppose you decide to obtain a four-year lease for a car and negotiate a selling price...

Suppose you decide to obtain a four-year lease for a car and negotiate a selling price of $34,100. The trade-in value of your old car is $3850. If you make a down payment of $1700, the money factor is 0.0029, and the residual value is $16,000, find each of the following. (Round your answers to the nearest cent.)

(a) The net capitalized cost
$

(b) The average monthly finance charge
$

(c) The average monthly depreciation
$

(d) The monthly lease payment
$

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