Car rental leases are either "open-end" or "closed-end." The basic difference between the two is that
A) monthly payments are variable under the closed-end lease, but fixed under the open-end lease.
B) monthly payments are variable under the open-end lease, but fixed under the closed-end lease.
C) with a closed-end lease you may be liable for additional payments if the resale price of the auto is less than estimated in the lease agreement.
D) with an open-end lease you may be liable for additional payments if the resale value of the auto is less than estimated in the lease agreement.
Answer: D) with an open-end lease you may be liable for additional payments if the resale value of the auto is less than estimated in the lease agreement.
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