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You are thinking about leasing a car. The purchase price of the car is $34,000. The residual value (the amount you could
Posted: Wed Jul 06, 2022 6:42 pm
by answerhappygod
- You Are Thinking About Leasing A Car The Purchase Price Of The Car Is 34 000 The Residual Value The Amount You Could 1 (23.97 KiB) Viewed 15 times
You are thinking about leasing a car. The purchase price of the car is $34,000. The residual value (the amount you could pay to keep the car at the end of the lease) is $15,000 at the end of 36 months. Assume the first lease payment is due one month after you get the car. The interest rate implicit in the lease is 5.5% APR, compounded monthly. What will be your lease payments for a 36-month lease? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your monthly lease payments will be **** (Round to the nearest cent.)