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What is monthly lease payment

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Reference no: EM132001313

You receive a $35,000 car LEASE at 6% nominal annual for 60 months. Interest is compounded daily and you make monthly payments. Your Residual value at the end of your lease is $15,000. Assume LEASE payments are made at the END of the month, (first payment due end of 1st month). What is your monthly LEASE payment?

Reference no: EM132001313

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