Honda is selling a 2014 Accord Coupe Ex M for $30 056.90 including freight, PDI and all applicable fees. The lease payment of $382 is due at the beginning of each month. If the interest rate compounded annually is 3.99% and the residual value is $13 200, determine the size of the final lease payment.
A) $240.51
B) $285.95
C) $150.28
D) $214.13
E) $5.92
Correct Answer:
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