We decide to buy a car and request to lease it from “BMZ Leasing Car Corporation...
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We decide to buy a car and request to lease it from “BMZ Leasing Car Corporation”. The corresponding amortised cost table is as follows:
Date | Interest | Payment | Amortised Principal | Amortised Cost |
30/04/2020 |
|
|
| 70,000.00 |
30/04/2021 | 6,790.72 | 28,000.00 | 21,209.28 | 48,790.72 |
30/04/2022 | 4,733.20 | 28,000.00 | 23,266.80 | 25,523.92 |
30/04/2023 | 2,476.08 | 27,000.00 | 24,523.92 | 1,000.00 |
30/04/2023 | 0,00 | 1,000.00 | 1,000.00 | 0.00 |
Total | 14,000.00 | 84,000.00 | 70,000.00 | 0.00 |
If we do monthly closings, we pay instalments annually and the purchase option is set at €1,000, what we would post on 30/04/2023 in terms of the financial lease agreement?
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