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Brenda will lease a $25,000 car at 3.9% compounded monthly with monthly payments of $473.15 starting immediately. After 4 years she will still owe $10,000
Brenda will lease a $25,000 car at 3.9% compounded monthly with monthly payments of $473.15 starting immediately. After 4 years she will still owe $10,000 on the vehicle. Determine the annuity type and number of payments N. Select one: a. Simple annuity due and N = 48 payments b. Simple annuity due and N = 5 payments c. General annuity due and N = 48 payments d. none
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