Mckoy Leasing leased a car to a customer. Mckoy will receive $325 a month, at the...

Mckoy Leasing leased a car to a customer. Mckoy will receive $325 a month, at the end of each month, for 60 months. Use the PV function in Excel Superscript ® 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 %? (Do not round intermediary computations, but round your final answer to the nearest cent.)

2. What is the present value of the lease if the car can likely be sold for $5,000 at the end of five years? (Do not round intermediary computations, but round your final answer to the nearest cent.)

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ekkarill92 answered 2 hours ago

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