Question
Use the following data: Down payment (to finance vehicle) $4,000 Down payment for lease$1,200 Monthly loan payment $560 Monthly lease payment $440 Length of loan
Use the following data:
Down payment (to finance vehicle) $4,000 Down payment for lease$1,200
Monthly loan payment $560 Monthly lease payment $440
Length of loan 48 months Length of lease payment 48 months
Value of vehicle at end of loan$7,200 end of lease charge $600
What is the total cash outflow for buying and for leasing a motor vehicle with a cash price of $24,000?
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Financial Management for Public, Health and Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
5th edition
1506326846, 9781506326863, 1506326862, 978-1506326849
