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A car dealer wants to offer you a 72 month lease on a $35,200 vehicle. You an afford a $200 monthly payment and the dealer
A car dealer wants to offer you a 72 month lease on a $35,200 vehicle. You an afford a $200 monthly payment and the dealer want to earn a 3.7% 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)?
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