Help Please!!!!Jamir has decided that he needs a new car. He has found the model and color he wants for a purchase price of $25,

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1 month ago

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Help Please!!!!Jamir has decided that he needs a new car. He has found the model and color he wants for a purchase price of $25,

838. To buy the car, he must put 10 percent down, and his loan is for five years with an interest rate of 4.4 percent. His payments are $432.46. To lease the car, he can sign a three-year contract with payments of $290. He needs to provide $1,500 up front to pay initial fees and his first month's payment. His annual mileage cannot exceed 15,000 miles. What are the disadvantages if Jamir decides to purchase the car? Check all that apply.
He will not get the model he wants.

He will have to come up with a bigger down payment.

His monthly payments will be higher.

He will have to return the car when he is done making payments.

The purchase price will be higher.

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2 answers:

soldi70 [3.1K] · Answer 1 · 2026-02-22T08:56:23+03:00

Answer:

He will have to provide a larger down payment.

His monthly payments will be more substantial.

Should Jamir decide to lease the vehicle, his upfront payment will amount to $1500.

If he opts to buy the car, his initial payment will be 10% of the purchase price, which is $\frac{10}{100} *25,838 = $2583.80$ .

Therefore, his upfront payment will be higher if he buys the car.

In the case of leasing, Jamir's monthly fee will be $290, contrasting with $432.46 for buying, which is a higher payment.

Free_Kalibri [3.1K] · Answer 2 · 2026-02-22T08:58:01+03:00

Free_Kalibri [3.1K]1 month ago

0 0

Yes, the appropriate response is:

He will need to raise a larger down payment.

His monthly payments will be greater.

I have completed the assignment.

Help Please!!!!Jamir has decided that he needs a new car. He has found the model and color he wants for a purchase price of $25,

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