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You are thinking about leasing a car. The purchase price of the car is $ 2 9 comma 0 0 0 . The residual value

You are thinking about leasing a car. The purchase price of the car is $29 comma 000. The residual value(the amount you could pay to keep the car at the end of the lease) is $15 comma 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 6.75%APR, compounded monthly. What will be your lease payments for a 36-month lease?(Note: Be careful not to round any intermediate steps less than six decimal places.)
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Part 1
Your monthly lease payments will be $
enter your response here. (Round to the nearest cent.)

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