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  • https://stats.libretexts.org/Courses/Fullerton_College/Math_100%3A_Liberal_Arts_Math_(Ikeda)/10%3A_Appendix/10.07%3A_Leases
    Thus, the lessee has a choice to give the car dealership either the keys to the car or a cheque in the amount of the residual value, thereby purchasing the car. The amount recorded is the present valu...Thus, the lessee has a choice to give the car dealership either the keys to the car or a cheque in the amount of the residual value, thereby purchasing the car. The amount recorded is the present value of the remaining lease payments, and it is calculated using a discount rate equivalent to the interest rate the business would have had to pay if the business had purchased the asset instead.

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