planning for living and leisure expenses: mastery test\n2\nselect the correct answer.\nmark wants a new car…

planning for living and leisure expenses: mastery test\n2\nselect the correct answer.\nmark wants a new car that costs $30,000. he only has $500 in his savings account and $300 in his checking account. which financing option should he choose?\na. purchase the car with a 10 percent down payment.\nb. lease the car with a 0 percent down payment.\nc. lease the car with a 35 percent down payment.\nd. purchase the car with a 20 percent down payment.

planning for living and leisure expenses: mastery test\n2\nselect the correct answer.\nmark wants a new car that costs $30,000. he only has $500 in his savings account and $300 in his checking account. which financing option should he choose?\na. purchase the car with a 10 percent down payment.\nb. lease the car with a 0 percent down payment.\nc. lease the car with a 35 percent down payment.\nd. purchase the car with a 20 percent down payment.

Answer

Brief Explanations:

Mark has a total of $500 + $300 = $800. The car costs $30,000. A 10% down - payment on the car is $30,000×0.1 = $3,000, a 35% down - payment is $30,000×0.35 = $10,500, and a 20% down - payment is $30,000×0.2 = $6,000. Since Mark doesn't have enough money for any of these down - payments for purchasing, the best option is a 0 percent down - payment lease.

Answer:

B. Lease the car with a 0 percent down payment.