Open Access
Subscription or Fee Access
Monthly Payment Formula in Auto Leasing Industry and Its Analytical Properties
Abstract
A simple mathematical formula is used to calculate monthly payment in Auto Leasing industry. However, the literature about this formula is limited. Analytical properties are ignored. Moreover, the origin of this formula has not been explored. In this paper, we systematically study this monthly payment formula and its monotonic properties. We explore the origin of this simple formula by deriving the exact formula for monthly payment. We obtain an alternate, more complicated but more accurate monthly payment formula. We show that the monthly payment by the simple formula is generally smaller than and closed to that by the exact formula.
Keywords
Disclaimer/Regarding indexing issue:
We have provided the online access of all issues and papers to the indexing agencies (as given on journal web site). It’s depend on indexing agencies when, how and what manner they can index or not. Hence, we like to inform that on the basis of earlier indexing, we can’t predict the today or future indexing policy of third party (i.e. indexing agencies) as they have right to discontinue any journal at any time without prior information to the journal. So, please neither sends any question nor expects any answer from us on the behalf of third party i.e. indexing agencies.Hence, we will not issue any certificate or letter for indexing issue. Our role is just to provide the online access to them. So we do properly this and one can visit indexing agencies website to get the authentic information. Also: DOI is paid service which provided by a third party. We never mentioned that we go for this for our any journal. However, journal have no objection if author go directly for this paid DOI service.