Developing Technology Glencoe Chapter 2 Section 3 Pages 52-57.
Leasing a Vehicle pp. 330-332 9-6 SECTION. Click to edit Master text styles Second level Third level...
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Leasing a Vehicle pp. 330-332 9- 6 SECTION
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Transcript of Leasing a Vehicle pp. 330-332 9-6 SECTION. Click to edit Master text styles Second level Third level...
Leasing a Vehicle pp. 330-3329-6SECTIONSECTION
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Section ObjectiveSection ObjectiveCalculate:
• total cost of leasing a vehicle
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lease (p. 330)
An agreement for the use of a vehicle, usually on an annual basis.
Key Words to KnowKey Words to Know
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Total Lease Cost =
(Number of Payments × Amount of Payment) + Deposit + Title Fee + License Fee
Formula Formula
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A Hard One to Pick p. 330A Hard One to Pick p. 330
Why might Gomez lease a vehicle instead of buying one?
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Ralph Dunn 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 1Example 1
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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 AnswerExample 1 Answer
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Tashira Conley least a minivan for family use. She pays $229.00 per month for 39 months. Her deposit was $1,000.00. She paid a $57.50 title fee and a $48.50 license fee.
What is her total least cost?
Example 2Example 2
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Step: Find the total lease cost.
(39 × $229.00) + $1,000.00 + $57.50 + $48.50
$8,931.00 + $1,000.00 + $57.50 + $48.50 =
$10,037.00
Example 2 AnswerExample 2 Answer
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Lease: Four-door car for 48 payments of $269.69 per month.
Deposit: $269.69.
Title fee: $60.
License fee: $75.
What is the total lease cost?
Practice 1Practice 1
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$13,349.81
Practice 1 AnswerPractice 1 Answer
Leasing a Vehicle9-6END OF SECTIONEND OF SECTION
