AGEC 235 EXAM 3 questions with correct answers

New Car Depreciation : Immediately CORRECT ANSWER 11% New Car Depreciation : 1 year CORRECT ANSWER 25% New Car Depreciation : 3 years CORRECT ANSWER 46% New Car Depreciation : 5 years CORRECT ANSWER 63% Residual Value CORRECT ANSWER The estimated value of the car at the end of its lease Closed End Lease CORRECT ANSWER Better simply return vehicle at the end of lease Open Ended Lease CORRECT ANSWER Worse You pay the difference between te actual market value of the car at the end of the lease and what it was originally at the beginning Bumper to Bumper CORRECT ANSWER covers almost everything and typically lasts 3 years / 36,000 miles Power Train CORRECT ANSWER Covers almost everything under the hood and lasts 5 years/100,000 miles Motor Vehicle Sales Tax CORRECT ANSWER 6.25%