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Exercise #7: You are leasing a car worth $28,000 for 36 months. You put down $1000 now and agree to monthly payments. The residual value

Exercise \#7: You are leasing a car worth $28,000 for 36 months. You put down $1000 now and agree to monthly payments. The residual value is $10,000. The financing rate is 6% (monthly compounded). How much will your monthly payments be

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