Question: Chase leases a new car by making a down payment of $4500 and beginning-of-month payments of $110 for 2 years. If the lease amount of

Chase leases a new car by making a down payment of $4500 and beginning-of-month payments of $110 for 2 years. If the lease amount of the car is $17,500 and Emily has the option of buying it for $10,590 at the end of the lease.

Determine the present value of the Lease periodic payment (PV of Lease PMTs) ?

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