joeygong5944 joeygong5944

25-01-2024
Business

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You plan to lease a Saab automobile that sells for $22,657 and has no salvage value. If the monthly lease is $499, with the first of 60 payments due immediately. What is the implied annual interest rate on your lease?
a. 10%
b. 11.5%
c. 12%
d. 13.5%

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