What would be the total cost of leasing a vehicle for four years that requires a security deposit of $1000 (which would be withdrawn from your portfolio,which earns nine percent per year) ,has monthly lease payments of $500,and has a kilometer restriction of $20000 with excess kilometers resulting in a charge of 10 cents per kilometer? (Assume that,over the life of the lease,you exceed the kilometer limit by 8000.)
A) $24 420
B) $24 360
C) $24 800
D) $25 160
Correct Answer:
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