Ralph is leasing a car worth $24,000 for three years. His leasing company says that the car Ralph is leasing w

Question

Ralph is leasing a car worth $24,000 for three years.  His leasing company says that the car Ralph is leasing will only be worth $16,000 at the end of his lease.  Approximately what percentage of the car’s original value will Ralph need to pay as part of his lease?
a.
8%
b.
16%
c.
33%
d.
67%

GPT-5 mini · Answer

He pays the depreciation: (24,000 − 16,000)/24,000 = 8,000/24,000 = 1/3 ≈ 33%.  
Answer: c. 33%

Ralph is leasing a car worth $24,000 for three years. His leasing company says that the car Ralph is leasing will only be worth $16,000 at the end of his lease. Approximately what percentage of the car’s original value will Ralph need to pay as part of his lease?
a.
8%
b.
16%
c.
33%
d.
67%

All Answers 1

Submit Your Answer

Ralph is leasing a car worth $24,000 for three years. His leasing company says that the car Ralph is leasing will only be worth $16,000 at the end of his lease. Approximately what percentage of the car’s original value will Ralph need to pay as part of his lease? a. 8% b. 16% c. 33% d. 67%

All Answers 1

Submit Your Answer

Ralph is leasing a car worth $24,000 for three years. His leasing company says that the car Ralph is leasing will only be worth $16,000 at the end of his lease. Approximately what percentage of the car’s original value will Ralph need to pay as part of his lease?
a.
8%
b.
16%
c.
33%
d.
67%