A car dealer wants to offer you a 60 month lease on a $ 39,500 car....
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A car dealer wants to offer you a 60 month lease on a $ 39,500 car. You can afford a $ 700 monthly payment and the dealer wants to earn a 6.3% APR. There is no down payment on the lease and monthly payments are due at the end of each month. What is the lowest estimated residual value for the car in order for the dealer to earn their required annual percentage rate (APR). Round your final answers to the nearest dollar. A car dealer wants to offer you a 60 month lease on a $ 39,500 car. You can afford a $ 700 monthly payment and the dealer wants to earn a 6.3% APR. There is no down payment on the lease and monthly payments are due at the end of each month. What is the lowest estimated residual value for the car in order for the dealer to earn their required annual percentage rate (APR). Round your final answers to the nearest dollar.
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