Calculating Lease Costs and Effective Purchase Price W/O interest

GIntelMaven

Okay, this may be a dumb question, but I am on the outside looking-in on some components of the market. Can someone help me figure out how to identify the purchase price of an MFP if I only have the monthly lease payment, # of months, and lease rate.

For example:

If the MP 2550SPF MFP sold with a:

36 month lease

$187.24 monthly payment

0.0302 rate

This is my math:

$187.24 x 0.0302 = $5.65 (lease cost per month)

$187.24 - $5.65 = $181.58 (monthly cost of Hardware per month w/o the rate)

$181.58 x 36 (months) = $6537.07 cost after 36 months without the lease rate

However, that price is inflated by some error in my math. The purchase price without lease costs should be $6,200

What is the trick here?

Is there a cost that I am missing in addition to the lease rate?

How do you calculate the effective purchase price without lease costs?

I appreciate any insight on this....

Jake

12/11/091:35 PM

Original Post

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