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Could you please help me solve. My answers are: 11A The car is worth: 33,384.77 i dont know the EAR... 11B Payments of 563.85 Exercise

Could you please help me solve.

My answers are:

11A

The car is worth: 33,384.77

i dont know the EAR...

11B

Payments of 563.85

image text in transcribed
Exercise #11A: You are leasing a car for 48 months. You put down $2000 now and agree to $500 monthly payments. The residual value is $15,000. The financing rate is 8% (monthly compounded). How much is the car worth? The car is worth $ today. The annual equivalent of the financing rate is EAR = % Exercise #113: You are leasing a car for 48 months. You put down $2000 now and agree to 5X monthly payments. The residual value is $15,000. The financing rate is 8% (monthly compounded). The car is worth $36,000 now. How much are your payments? Payments $ per month

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