Toronto Trucking has decided to lease a long-haul trailer for the next 6 years using a $1.00 out lease.The purchase price of the trailer is $189,000.If the risk-free rate is a 4% APR with monthly compounding,what would be the monthly lease payment for a 6-year lease?
A) $2,950.79
B) $2,947.10
C) $2,956.93
D) $2,941.16
E) $2,913.55
Correct Answer:
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