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Sagot :
The total lease cost is $680.
What is a lease?
- A lease is a contractual agreement that requires the user to pay the owner for the use of an item.
- Property, buildings, and cars are examples of leased assets. Leasing is also used for industrial or commercial equipment.
- A lease agreement, in general, is a contract between two parties: the lessor and the lessee.
- The lessee acquires the right to use the asset in exchange for regular rental payments from the lessor, who is the legal owner of the asset.
- The lessee also undertakes to follow certain conditions when using the property or equipment.
- A person leasing a car, for example, may agree to the restriction that the car will only be used for personal purposes.
To find the total lease cost:
- The total deposit is $575.
- License fees of $105.
- So, total lease cost = 575 + 105 = $680.
Therefore, the total lease cost is $680.
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