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1) You are thinking of leasing a car

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1) You are thinking of leasing a car. The price of the car is ?$55,000. You have ?$3,000 for a down payment. The term of the lease is four years and the interest rate is 3.5?% APR. The buyout on the lease is? 51% of its purchase price and it is due at the end of the term. What are the monthly lease payments? (before tax)?

2) You are thinking of leasing a car. The price of the car is ?$60,000. You have ?$4,000 for a down payment. The term of the lease is five years and the interest rate is 3?% APR. The buyout on the lease is? 51% of its purchase price and it is due at the end of the term. What are the monthly lease payments? (before tax)?