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Parker Leasing leased a car to a customer. Parker will receive $150 a month, at the end of each month, for 72 months. Use the

Parker Leasing leased a car to a customer. Parker will receive $150 a month, at the end of each month, for 72 months. Use the PV function in Excel to calculate the answers to the following questions

1. What is the present value of the lease if the annual interest rate in the lease is 6%?

2. What is the present value of the lease if the car can likely be sold for $8,000 at the end of six years?

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