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You are thinking about leasing a car. The purchase price of the car is $30,000 . The residual value(the amount you could pay to keep

You are thinking about leasing a car. The purchase price of the car is $30,000. The residual value(the amount you could pay to keep the car at the end of thelease) is $15,000 at the end of 36 months. Assume the first lease payment is due one month after you get the car. The interest rate implicit in the lease is 5.25 %APR, compounded monthly. What will be your lease payments for a 36-month lease rounded to nearest cent?

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