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Chapter Annuities Future value and present value of an ordinary simple annuity Future value and present value of an ordinary general annuity   Joshua secured a 3-year car lease at 5

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Chapter Annuities

Future value and present value of an ordinary simple annuity

Future value and present value of an ordinary general annuity

Joshua secured a 3-year car lease at 5.90% compounded annually that required her to make payments of $887.57 at the beginning of each month. Calculate the cost of the car if she made a downpayment of $3,750.