Question: How to solve this correctly ??? You would like to lease a car. The car costs $55,000. You have $4,500 for a down payment. The
How to solve this correctly ??? You would like to lease a car. The car costs $55,000. You have $4,500 for a down payment. The dealer has offered you a 48-month lease with monthly payments of $848.42. At the end of the term, the buyout for the lease is 52% of the purchase price. What is the APR on this lease? The APR is%. (Round to two decimal places as needed.)
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