What are the monthly payments on the lease

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Reference no: EM133616031

Problem: A car is leased (leases are beginning of the period payments) that is worth $67,800 at 6.2% per year compounded yearly (effective). There is a special in which the car dealer does not require payments for 3 months. The term of the car lease is 5 years starting when the payments start? What are the monthly payments on this lease?

Reference no: EM133616031

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