You are trying to buy a car and your favorite car dealer is offering you a great car lease deal. The car lease is based on 40% of the car price to be paid in 36 months. The residual, or the other 60%, will be paid through a car loan starting on the 37th month. How much should you pay per month during the first 36 months if the car's sticker price was $35,000.00 and the lease interest rate is 3.50% (compound monthly)? Show your work.

Answer rating: 100% (QA)

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