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Enrico Alonso recently leased a new luxury car. His payments are $658 per month for 60 months. His deposit was $6,000. He paid a $105 title fee and an $80 license fee. What is his total lease cost?

Respuesta :

CastleRook
This is the concept of financial arithemetic;
We are required to calculate the total cost of leasing a new luxury car.
Here we shall use the formula;
total cost=[deposit+title fee+licence]+(monthly payment*number of months)
deposit=$658
title fee=$105
license=$80
monthly payments=6000
number of months=60
thus;
total cost=[6000+105+80]+[658*60]
total cost=6185+39,480
total cost=$45,665