The monthly payment for a car lease is $300 for 24 months. The down payment is $1,000. The residual value is $9,000. What is the total cost of the lease? A. 17,200. B. 40,700. C. 8,200

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The total cost of the lease would be $17,200. This is because $300 payment for 24 months is equal to $7,200 + $1,000 (down payment) and + the residual value of $9,000 = $17,200.

The total cost of the lease with a monthly payment of $300 for 24 months and a down payment of $1,000 is C. $8,200.

What is the total cost of a lease?

The total cost of a lease is the sum of the monthly payments and down payment.

The total cost of a lease does not include the residual value of the property.

Data and Calculations:

Monthly payment = $300

Lease period = 24 months

Total monthly payment = $7,200 ($300 x 24)

Down payment = $1,000

Total cost of the lease = $8,200 ($7,200 + $1,000)

Residual value = $9,000

Thus, the total cost of the lease with a monthly payment of $300 for 24 months and a down payment of $1,000 is C. $8,200.

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