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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 value the 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 your lease payments be for a month
lease?
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