What is your monthly lease rate if you sign a 5-year lease

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You wish to lease a car. The net capitalized value is $35,000. The residual value is $15,000 in 5 years. The borrowing rate is 6%, compounded monthly. Sales taxes amount to 15%. What is your monthly lease rate if you sign a 5-year lease? Show your work.

Reference no: EM132417980

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