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A car you wish to lease requires a $500 downpayment, 60 monthly payments of $415 (first payment due one month from today), and has a

A car you wish to lease requires a $500 downpayment, 60 monthly payments of $415 (first payment due one month from today), and has a residual value of $12,300. When the lease ends you will keep the car, and expect to sell it 4 years after the lease ends for $2500. The cost of capital you are using to evaluate this lease is an APR of 9%, compounded monthly. Including the effect of seling the car 4 years after the least, what is the cost of the lease at of today?

$26,751.21

$28,932.25

$26,732.44

$19,376.44

$25,328.23

$27,232.44

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