Problem $4-51$ Calculating Annuities Due

You want to lease a set of golf clubs from Pings Ltd$.$ The lease contract is in the form

of $36$ equal monthly payments at an APR of $8\mathrm{.}5$ percent compounded monthly.

Because the clubs cost $$3,200$ retail, the company wants the value today of the lease

payments to equal $$3,200.$ Suppose that your first payment is due immediately. What

will your monthly lease payments be$?($Do not round intermediate calculations and

round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Lease payment