A car dealer is willing to lease you a car for $319 a month for 60 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 4.9 percent,compounded monthly,what is the current value of the lease?
A) $17,882.75
B) $17,906.14
C) $17,014.34
D) $16,235.42
E) $16,689.54
Correct Answer:
Verified
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