For those good at Math...Pls Fill in the blanks for me
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From: ToRonTo, OnTaRiO, Khanaadah
s550
For those good at Math...Pls Fill in the blanks for me
Vehicle Lease value: $164,980 ($146000+13% hst tax)
Downpayment: $20,000
Capitalized cost: $144,980 (vehicle lease value - downpayment)
Lease Term: 36months
Annual Percent Rate:
Implicit Finance Charge:
Lease payment per month: $1750
Total Cost of Lease:
Hst on each payment per month: $227.50 (13% of $1750)
please help me correct whichever one i have wrong and fill out the blank on the rest. Hst is 13% for calculation purposes. Does vehicle lease value include cost plus tax as i did it? Is capitalized cost simply as i did it? Implicit finance charge am guessing is just a cashgrab. If so, lets assume its $500. If not, please tell
me what it means and help with calculation where applicable.
Thanks
Downpayment: $20,000
Capitalized cost: $144,980 (vehicle lease value - downpayment)
Lease Term: 36months
Annual Percent Rate:
Implicit Finance Charge:
Lease payment per month: $1750
Total Cost of Lease:
Hst on each payment per month: $227.50 (13% of $1750)
please help me correct whichever one i have wrong and fill out the blank on the rest. Hst is 13% for calculation purposes. Does vehicle lease value include cost plus tax as i did it? Is capitalized cost simply as i did it? Implicit finance charge am guessing is just a cashgrab. If so, lets assume its $500. If not, please tell
me what it means and help with calculation where applicable.
Thanks