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Problem 1: You are thinking of leasing a car. The price of the car is $55,000. You have $2,000 for a down payment. The term of the lease is three years and the interest rate is 7.5% APR. The buyout on the lease is 51% of its purchase price and it is due at the end of the term. What are the monthly lease payments (before tax)?

Reference no: EM132751157

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