Leasing a Vehicle pp SECTION

Click to edit Master text styles Second level Third level Fourth level Fifth level 2 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 9-6, Slide 2 of lease (p. 330) An agreement for the use of a vehicle, usually on an annual basis. Key Words to Know

Click to edit Master text styles Second level Third level Fourth level Fifth level 3 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 9-6, Slide 3 of Total Lease Cost = (Number of Payments × Amount of Payment) + Deposit + Title Fee + License Fee Formula

Click to edit Master text styles Second level Third level Fourth level Fifth level 4 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 9-6, Slide 4 of Ralph Dumas leased a pickup truck for use in his lawn care business. He pays $199 per month for 60 months. His deposit was $2,500. He paid an $80 title fee and a $45 license fee. What is his total lease cost? Example 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 5 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 9-6, Slide 5 of Step: Find the total lease cost. (Number of Payments × Amount of Payment) + Title Fee + License Fee (60 × $199) + $2,500 + $80 + $45 $11,940 + $2,500 + $80 + $45 = $14,565 Example 1 Answer

Click to edit Master text styles Second level Third level Fourth level Fifth level 6 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 9-6, Slide 6 of Tashira Conley least a minivan for family use. She pays $ per month for 39 months. Her deposit was $1, She paid a $57.50 title fee and a $48.50 license fee. What is her total least cost? Example 2

Click to edit Master text styles Second level Third level Fourth level Fifth level 7 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 9-6, Slide 7 of Step: Find the total lease cost. (39 × $229.00) + $1, $ $48.50 $8, $1, $ $48.50 = $10, Example 2 Answer

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