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.   Question 1 options:   A)  $285.95   B)  $240.51   C)  $214.13   D)  $150.28   E)  $5.92

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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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.
 

Question 1 options:

 

A) 

$285.95
 

B) 

$240.51
 

C) 

$214.13
 

D) 

$150.28
 

E) 

$5.92

 

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