Sally is near the end of a three year lease on a car with an original MSRP of 38 dollars comma 000 Her leasing company claims that the car is now worth only 28 dollars comma 500 Which percentage represents the residual value of Sally’s leased car?

Residual value as a percentage is the car’s current estimated value divided by its original MSRP, multiplied by 100. Here, $28,500 ÷ $38,000 = 0.75, or 75%. So the residual value is 75 percent, choice B.

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