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An automobile dealer in Cochrane is calculating the lease payments to charge on the SLE model which has a selling price of $37,900. During a

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An automobile dealer in Cochrane is calculating the lease payments to charge on the SLE model which has a selling price of $37,900. During a month-long promotion, the dealer will offer an interest rate of only 1.99% compounded monthly on a four-year lease. If the residual value is $14, 500, what will be the lease payments at the beginning of every month assuming a $3500 down payment

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