Question: Question content area top Part 1 WarnockWarnock Leasing leased a car to a customer. WarnockWarnock will receive $ 1 5 0 1 5 0 a

Question content area top
Part 1
WarnockWarnock
Leasing leased a car to a customer.
WarnockWarnock
will receive
$150150
a month, at the end of each month, for
7272
months. Use the PV function in
Excel Superscript Excel
to calculate the answers to the following questions
1.
What is the present value of the lease if the annual interest rate in the lease is
66%?
2.
What is the present value of the lease if the car can likely be sold for
$7 comma 0007,000
at the end of
sixsix
years?

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