select the correct answer. the monthly payment for a car lease is $530 for 18 months. the down - payment is…

select the correct answer. the monthly payment for a car lease is $530 for 18 months. the down - payment is $2,000. the residual value is $7,000. what is the total value of the lease? o a. $18,540 o b. $20,540 o c. $25,540

select the correct answer. the monthly payment for a car lease is $530 for 18 months. the down - payment is $2,000. the residual value is $7,000. what is the total value of the lease? o a. $18,540 o b. $20,540 o c. $25,540

Answer

Answer:

C. $25,540

Explanation:

Step1: Calculate total monthly payments

$530\times18 = 9540$

Step2: Find total value of lease

$9540 + 2000+7000=25540$