A car dealership is ready to give you a $25,000 car on a lease for...
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A car dealership is ready to give you a $25,000 car on a lease for 48 months at 6% interest rate per year (or 6% divided by 12 = 0.5% per month). What will be your monthly lease payments which are made at the beginning of the months, if you agree to make a lumpsum payment of $6,500 at the end of the lease term to own the car after the lease term is over?
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