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Question 35 (3 points) You went to the car dealer to lease a car. The car is valued at $30,000 and you can drive away
Question 35 (3 points) You went to the car dealer to lease a car. The car is valued at $30,000 and you can drive away without putting any money down. The dealer offers you a 5 year lease with a $5,000 residual payment at the end if you want to buy the car. Assuming monthly payments of $508.32, what is the implied APR? Your answer should be close to a round number. Use a % symbol and round to the nearest 1 decimal point.....3.0% would be the form of a correct answer. A Question 36 (4 points) The Bears are going to trade for Russell Wilson and sign him to a new 6 year contract. He gets $15 million today. Then, he gets $20 million at the end of years 1 through 6. At the end of 6 years, he gets an additional $35.768 million payment. Assume a discount rate of 8% and annual compounding. What is the PV of his contract? use the $ symbol and the the word million....$278 million would be the form of a correct answer.
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