Question: how would I solve for numbers 9 and 10 Exercise #5: You are leasing a car worth $32,000 for 36 months. You put down $1200

how would I solve for numbers 9 and 10

Exercise #5: You are leasing a car worth $32,000 for 36 months. You put down $1200 now and agree to monthly payments. The residual value is $17,000. The financing rate is 6% (monthly compounded). How much are your monthly payments going to be? Draw the time line, work the calculator entries. 1 1 36 0 1 2 $ .........[9]...... EEEEEE What is the EAR in this problem? EAR = ......[10]..........%

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