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1 decimal plce General Motors advertised three alternatives for a 13-month lease on a new Tahoe: (1) zero dollars down and a lease payment of
1 decimal plce
General Motors advertised three alternatives for a 13-month lease on a new Tahoe: (1) zero dollars down and a lease payment of $1,950 per month for 13 months, (2) $6,100 down and $1,650 per month for 13 months, or (3) $40,500 down and no payments for 13 months. (Table B.1,. Table B.2. Table B.3, and Table B.4) (Use approprlate factorts) from the tables provided.) Calculate the total present value of lease payments under the three alternatives (assume the annual Interest rate is 12% compounded monthly) n Option 1 Table Value Present Value Amount Down Payment 1.0000 Monthly Payments Total Present Value Option 2 Table Value Amount Present Value Down Payment 1.0000 Monthly Payments Total Presemt Value Option 3 Table Value Amount Present Value Down Payment 1.0000 Total Present Value Step by Step Solution
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