Question
If you lease a $57,000 car with a $700 per month payment and its projected residual value is $37,000 at the end of the three
If you lease a $57,000 car with a $700 per month payment and its projected residual value is $37,000 at the end of the three year leasing period, what is the implied interest rate?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
