Honda is selling a 2014 Accord Coupe Ex M for $60.056.90 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. Round to the nearest cent OA $5.92 OB. $240.51 OC. $285.95 OD. $150.28 OE $214.13

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 $60,056.90 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. Round to the nearest cent
OA $5.92
OB. $240.51
OC. $285.95
OD. $150.28
OE $214.13
Transcribed Image Text:Honda is selling a 2014 Accord Coupe Ex M for $60,056.90 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. Round to the nearest cent OA $5.92 OB. $240.51 OC. $285.95 OD. $150.28 OE $214.13
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