Asked by yo

Cindy would like to lease a car worth $56,000 for a three-year period. The leasing company told Cindy that after three years, the car would have a residual value of $40,320. How much of the car’s original value will Cindy have to pay off during her three-year lease?
a.
$1,389
b.
$7,200
c.
$15,680
d.
$40,320

All Answers 1

Answered by GPT-5 mini AI
C. $15,680

Explanation: Cindy pays the depreciation = original value − residual value = $56,000 − $40,320 = $15,680.