Ask Question
10 December, 23:22

You have a choice of whether to lease or buy a location. You can lease it for $3,500 per month or buy it for $1 million. A bank will give you a mortgage at 4% per year. How will your monthly mortgage interest compare to the monthly lease cost?

+5
Answers (2)
  1. 10 December, 23:23
    0
    Monthly mortgage interest is less than monthly least cost.

    Explanation:

    4% of 1,000,000

    = $40,000 per year

    Per month = 40,000 : 12

    = %3,333.33
  2. 10 December, 23:36
    0
    monthly mortgage interest is less than monthly lease cost

    Explanation:

    4% of 1000000

    = $40,000 per year

    Per month: 40000/12

    = %3,333.33

    Monthly mortgage interest is less than monthly lease cost
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You have a choice of whether to lease or buy a location. You can lease it for $3,500 per month or buy it for $1 million. A bank will give ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers