You are looking to lease a car and the dealer offers you: Car price = $30,000 Monthly payments = $499 Down payment = $2,000 Lease term = 48 months Purchase price at end of lease = $12,000 What is the implicit interest rate on the lease? 1 2 3 Cash flows: 4 Start 5 Month 1 Month 2 Month

Sep 8, 2023

 

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You are looking to lease a car and the dealer offers you: Car price = $30,000 Monthly payments = $499 Down payment = $2,000 Lease term = 48 months Purchase price at end of lease = $12,000 What is the implicit interest rate on the lease? 1 2 3 Cash flows: 4 Start 5 Month 1 Month 2 Month
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