Mathematics, 09.06.2021 05:00 lilinicholeb
Kevin needs a van for his catering company. He has found one that costs 25,675.00, including all fees and taxes. He has two options: he can lease the van for 4 years, for $450.00 per month with a security deposit of $2000 and a delivery charge if $529.96. He can use the $2529.96 as a down payment and take out a loan at an interest rate of 3.15% per annum, compounded monthly period of 4 years. a.) Calculate the total cost of leasing the van for 4 years if Kevin damages the van and doesn't get his security deposit back. b.) what would be the monthly payments on the loan? c.) calculate the total cost of purchasing the van, including the interest on the loan. d.) which option would you recommend Kevin choose? Explain your reasoning.
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Kevin needs a van for his catering company. He has found one that costs 25,675.00, including all fee...
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