Exercise #$5$: You are leasing a car worth $$32,000$ for $36$ months. You put down $$1200$ now and agree to

monthly payments. The residual value is $$17,000.$ The financing rate is $6\%($monthly compounded$).$ How

much are your monthly payments going to be$?$ Draw the time line, work the calculator entries.

$

$9$

What is the EAR in this problem? EAR $=$

$10$

$\%$

How do you solve this in a financial calculator with steps