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On a dealer car lease, you are asked to pay $ 3 , 0 0 0 today, with a lease payment of $ 6 0

On a dealer car lease, you are asked to pay $3,000 today, with a lease payment of $600 at the beginning of the month with the first payment due today for 36 months. If the value today of the car is $53,000 and will be worth $42,000 at the end of the lease, what rate of return (APR and EAR) is the car dealer earning?

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