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You are thinking about leasing a car. The purchase price of the car is $ 3 0 , 0 0 0 . The residual value
You are thinking about leasing a car. The purchase price of the car is $ The residual valuethe amount you could pay to keep the car at the end of the lease is $ at the end of months. Assume the first lease payment is due one month after you get the car. The interest rate implicit in the lease is APR compounded monthly. What will be your lease payments for a month leaseNote: Be careful not to round any intermediate steps less than six decimal places.
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