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what am i doing wrong? General Motors advertised three alternatives for a 25-month lease on a new Tahoe: (1) zero dollars down and a lease
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General Motors advertised three alternatives for a 25-month lease on a new Tahoe: (1) zero dollars down and a lease payment of $1,750 per month for 25 months, (2) $5,000 down and $1,500 per month for 25 months, or (3) $38,500 down and no payments for 25 months. (Table B1, Table B.2, Table B.3, and Table B.4) (Use appropriate factor(s) from the tables provided. Enter table values to 4 decimal places.) Calculate the total present value of lease payments under the three alternatives (assume the annual interest rate is 12% compounded monthly). Answer is complete but not entirely correct 12 1.0% Option 1 Table Value Present Value Amount Down Payment Monthly Payments Total Present Value 1.0000 $1,750 22.0232 S 485 485 Table Value Present Value Option 2 Amount Down Payment Monthly Payments Total Present Value 1.0000 $1,500 x$1,500 5,000.0000 5007,500,000 Table Value $ 7,501,500 Present Value Option 3 Amount Down Payment Total Present Value 1.0000 S 38,500 38,500 S 38,500Step by Step Solution
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