Question: Warnock Leasing leased a car to a customer. Warnock will receive $325 a month, at the end of each month, for 72 months. Use the

Warnock Leasing leased a car to a customer. Warnock will receive

Warnock Leasing leased a car to a customer. Warnock will receive $325 a month, at the end of each month, for 72 months. Use the PV function in 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 12%? 2. What is the present value of the lease if the car can likely be sold for $5,500 at the end of six years? 1. What is the present value of the lease if the annual interest rate in the lease is 12%? (Do not round intermediary computations, but round your final answer to the nearest cent.)

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