Your car dealer is willing to lease you a new car for $199 a month for 72 months. Payments are due on the first day of each month starting with the day you sign the lease contract. If your cost of money is 5.45%, what is the current value of the lease?
A) $11,708.18
B) $11,297.60
C) $12,197.74
D) $12,253.14
E) $13,008.31
Correct Answer:
Verified
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