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You Plan to Lease a Saab Automobile That Sells for $22,657

Question 77

Multiple Choice

You plan to lease a Saab automobile that sells for $22,657 and has no salvage value.If the monthly lease is $499, with the first of 60 payments due immediately.What is the implied annual interest rate on your lease?


A) 10%
B) 11.5%
C) 12%
D) 13.5%

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