Pls. provide a manual solution, assuming that financial calculators do not exist. Answers are given, I just want to know how to arrive at those answers. 1. You are considering leasing a car. You notice an ad that says you can lease the car you want for$477.00 per month. The lease term is 60 months with the first payment due at inception of the lease. You must also make an additional down payment of $2,370. The ad also says that the residual value of the vehicle is $20,430. After much research, you have concluded that you could buy the car for a total "drive out" price of $33,800. What is the quoted annual interest rate you will pay with the lease? Answer: 13.47% 2. You are valuing an investment that will pay you $26,000 per year for the first 9 years, $34,000 per year for the next 11 years, and $47,000 per year the following 14 years (all payments are at the end of each year). Another similar risk investment alternative is an account with a quoted annual interest rate of 9.00%with monthly compounding of interest. What is the value in today's dollars of the set of cash flows you have been offered? Answer: $314,517.85