Business, 07.04.2020 20:05 avavackity

You are thinking about leasing a car. The purchase price of the car is $ 27 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 5 % 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.) Your monthly lease payments will be $ nothing. (Round to the nearest cent.)

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You are thinking about leasing a car. The purchase price of the car is $ 27 comma 000. The residual...