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A vehicle is advertised with beginning - of - month lease payments for 7 8 months at 6 . 9 % compounded monthly. The terms

A vehicle is advertised with beginning-of-month lease payments for 78 months at 6.9% compounded monthly. The terms of the lease specify that the vehicle price is $35,400 with a residual value of $15,804. A $5,390 down payment is required. What monthly lease payment is required?

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