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What are the monthly finance payments for a year term

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Question - A new Jeep Renegade sells for $41,520 and has a residual value of $15,120 in 4 years. Interest is 1.20% compounded monthly. (Do not forget to include 13% HST).

Required -

1. What are the monthly finance payments for a 4 year term?

2. What are the monthly lease payments for a 4 year term?

Reference no: EM132620509

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