As part of your new job at Headman the Puck, the company is providing you with a new car. Your firm will lease this $34,000 car for you. The terms of the lease are seven annual payments at an interest rate of 10%, paid at the beginning of each year, which will fully amortize the cost of the car. What is the annual lease payment?

 

Answer rating: 100% (QA)

Answer To calculate the annual lease payment we can use the formula for the present v... View the full answer