A Lease is an agreement over the use of any property or an asset made between two people, usually referred as lessor and lessee. The lessee has to make regular payments for the use of the lessor's asset (property or vehicle) over the fixed time period. Here is the online Lease calculator to find any vehicle/property lease amount, monthly payments to be done and total interest amount by entering the least cost, residual Value, lease Rate and lease term period.
A Lease is an agreement over the use of any property or an asset made between two people, usually referred as lessor and lessee. The lessee has to make regular payments for the use of the lessor's asset (property or vehicle) over the fixed time period. Here is the online Lease calculator to find any vehicle/property lease amount, monthly payments to be done and total interest amount by entering the least cost, residual Value, lease Rate and lease term period.
A person leases his vehicle that costs 50000 at the lease rate of 12 % with the residual value of 3000 for 2 years.
Lease Amount = [(CC - RV)/ M ]+ [(CC + RV) x MF ]
Money Factor = 12 / 2400
Substituting the values in formula,
Lease Amount = [(50000 - 3000) / 24] + [(50000 + 3000) x 12/2400]
= 2223.33
Total Amount to be Paid = 53360
Total Interest= 6360
