easing leased a car to a customer.

GeorgetownGeorgetown

will receive

$$$$150$

a$$ month, at the end of each$$ month, for

$72$

months. Use the PV function in Excel to calculate the answers to the following questions

What is the present value of the lease if the annual interest rate in the lease is

$9\%?$

What is the present value of the lease if the car can likely be sold for

$$$$6,500$

at the end of

six

$$years$?$

Question content area bottom

Part $1$

$1.$ What is the present value of the lease if the annual interest rate in the lease is

$9\%?$

$$