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You are interested in leasing a car with maximum payments of $319 monthly for 60 months. Payments are due on the first day of each

You are interested in leasing a car with maximum payments of $319 monthly for 60 months. Payments are due on the first day of each month, starting with the day you sign the lease contract. If your cost of money is 4.9 percent, compounded monthly, what is the current value of the lease? Show all work and discuss.

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