Please Show work on how you solved these problems!

2. Determine Car Lease Payments In a lease, the customer drives away a new car (a positive cash flow equivalent to the new car's worth) at time zero and return a used car (a negative cash flow equivalent to the residual value of the car) at the end of the lease. The term of the lease is 5 years, for 60 monthly payments. The current value of the car is $100,000, and the residual value at the end of year 5 is $42,000. 1. (30 points) The annual interest rate (APR) on the lease is 3.0%. Assuming you do not put down any money upfront, what is the monthly lease payment? Please list the formula. Hint: the monthly payments will net the present value of all the cash flows to zero. 2. (10) If there is an upfront sales tax of $4,640 you have to pay, but you choose to embed it in the monthly payment instead, what is the lease payment? 3. (10) In light of the sales tax above, if you pay a down payment of $5,000, what is the lease payment? 2. Determine Car Lease Payments In a lease, the customer drives away a new car (a positive cash flow equivalent to the new car's worth) at time zero and return a used car (a negative cash flow equivalent to the residual value of the car) at the end of the lease. The term of the lease is 5 years, for 60 monthly payments. The current value of the car is $100,000, and the residual value at the end of year 5 is $42,000. 1. (30 points) The annual interest rate (APR) on the lease is 3.0%. Assuming you do not put down any money upfront, what is the monthly lease payment? Please list the formula. Hint: the monthly payments will net the present value of all the cash flows to zero. 2. (10) If there is an upfront sales tax of $4,640 you have to pay, but you choose to embed it in the monthly payment instead, what is the lease payment? 3. (10) In light of the sales tax above, if you pay a down payment of $5,000, what is the lease payment