Question: how to do 1 and 2 Mckoy Leasing leased a car to a customer. Mckoy will receive $150 a month for 60 months. (Assume the

how to do 1 and 2 Mckoy Leasing leased a car to how to do 1 and 2

Mckoy Leasing leased a car to a customer. Mckoy will receive $150 a month for 60 months. (Assume the lease payments occur at the end of each month.) 1. What is the present value of the lease if the annual interest rate in the lease is 15%? Use the PV function in Excel to compute the present value 2. What is the present value of the lease if the car can likely be sold for $6,000 at the end of five years? 1. What is the present value of the lease if the annual interest rate in the lease is 15%? Use the PV function in Exce to compute the present value. (Round your answer to the nearest cent.) The present value of the lease is $

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