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(Solved): Compute the interest paid on a 3-year lease for a $27,689 car if the annual rate of depreciation is ...



Compute the interest paid on a 3-year lease for a $27,689 car if the annual rate of depreciation is 16% and the lease's annual interest rate is 4.3%.




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Given :
Car value = $27,689
Annual interest rate = 4.3%
Monthly rate (r)=  
years =3
n= 12 x 3 =36



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