Question: The value of K = 8 . Do not use AI otherwise I will report Using the formula discussed in class, find the monthly payment

The value of K =8. Do not use AI otherwise I will report
Using the formula discussed in class, find the monthly payment for the following lease. A car is listed at $25,000
and a $(5,000+k100) down payment is made.
Interest on the lease payments is charged at 1.8% compounded monthly over 6 years. Payments will commence one
month from today and the residual value is $5,000.
The value of K =8. Do not use AI otherwise I

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