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1 of 1 (0 completo HW Score: 0%, 0 of 1 pt P 5-17 (similar to) Question Help 0 You are thinking about leasing a
1 of 1 (0 completo HW Score: 0%, 0 of 1 pt P 5-17 (similar to) Question Help 0 You are thinking about leasing a car. The purchase price of the car is $35,000. 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 got the car. The interest rate implicit in the lease is 6.5% APR, compounded monthly. What will be your lease payments for a 38-month lease? (Note: Be careful not to round any intermediate stops less than six decimal places) Your monthly lease payments will be $(Round to the nearest cent)
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