Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - 8.6 Cars - Concept and Vocabulary Check - Page 546: 8

Answer

False

Work Step by Step

When an open-end lease terminates and the car's appraised value is less than the residual value stated in the lease, you must pay the leasing company the difference between the residual value and the appraised value.
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