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In: Finance

9.Just recently having accepted a full time position at your dream job, you go in search...

9.Just recently having accepted a full time position at your dream job, you go in search of a new car. You found one you like a lot and you consider a three-year lease. It will cost you $360 per month, plus an additional $15,000 at the end of the lease if you want to purchase it. If (1) your opportunity cost of money is about an APR of 7.0%, and (2) you intend to purchase the car after the lease, what will be the total investment you will have made in the car when the lease is up and you purchase it?

A. about $26,337

B. about $29,380

C. about $15,000

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Expert Solution

jeff jeffy answered 5 months ago
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