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Lucas is leasing a car originally valued at $37,380. The lease is being financed with an interest rate of 7.12% compounded monthly with payments of
Lucas is leasing a car originally valued at $37,380. The lease is being financed with an interest rate of 7.12% compounded monthly with payments of $693 at the beginning of each month. Round the value of N to two decimal places. (a) How many payments will Lucas have to make to repay the original value? Choose BGNBGN or ENDEND ? BGN END P/Y = C/Y = N = I/Y = % PV = $ PMT = $ FV = $ Number of payments = (round to the next higher whole number)
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