Round dollar amounts to TWO decimal places. John leases a car priced at $24,822 with a contract that requires start-of-week paymes $65.95 for 2 years at 2.41% compounded weekly. a) What is the residual value of the car at the end of the lease? Mode 4 N= N PV = N N How much will John pay in total for leasing the car (without the residual value cal paid A V-

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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Round dollar amounts to TWO decimal places.
John leases a car priced at $24,822 with a contract that requires start-of-week payments of
$65.95 for 2 years at 2.41% compounded weekly.
a) What is the residual value of the car at the end of the lease?
Mode
N=
Listen
PV =
N
N
b) How much will John pay in total for leasing the car (without the residual value)?
Total paid-
A
FV=
Transcribed Image Text:Round dollar amounts to TWO decimal places. John leases a car priced at $24,822 with a contract that requires start-of-week payments of $65.95 for 2 years at 2.41% compounded weekly. a) What is the residual value of the car at the end of the lease? Mode N= Listen PV = N N b) How much will John pay in total for leasing the car (without the residual value)? Total paid- A FV=
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