#4

You are going to lease a brand new car. The price of the car is $53,000. You intend to make a $4,500 down payment. The term of the lease is 48 months and the lease rate is 6.6% APR. The buyout for the lease is40% of its purchase price. What are the monthly lease payments aftertax? The tax rate is 11%.

Theafter-tax monthly lease payments are $

nothing

.

(Round to the nearest cent asneeded.)