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A car dealer wants to offer you a 60 month lease on a $28,300 car. You can afford a $500 monthly payment and the dealer
A car dealer wants to offer you a 60 month lease on a $28,300 car. You can afford a $500 monthly payment and the dealer wants to earn a 9.4% APR. There is no down payment on the lease and monthly payments are due at the end of each month. What is the lowest estimated residual value for the car in order for the dealer to earn their required annual percentage rate (APR). Round your final answers to the nearest dollar. A Question 2 (6 points) What is the future value of the following deposits made at the end of each year if you can earn 9.5% APR compounded quarterly. Round your final answers to the nearest dollar
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