Alexis just purchased a new vehicle. Her lease is for 4 years, at an interest rate of 2.5% compounded monthly. Her payments are $949.63 due at the beginning of every month. If she paid a down payment of $5,000 and the residual value at the end of the lease is $17,500. What was the selling price (MSRP) of the vehicle? Round your final answer to the nearest dollar. I/Y AnswerAnswerAnswerAnswerAnswerAnswer The selling price of the vehicle is $ P/Y C/Y N PMT F

Alexis just purchased a new vehicle. Her lease is for 4 years, at an interest rate of 2.5% compounded monthly. Her payments are $949.63 due at the beginning of every month. If she paid a down payment of $5,000 and the residual value at the end of the lease is $17,500. What was the selling price (MSRP) of the vehicle? Round your final answer to the nearest dollar. I/Y AnswerAnswerAnswerAnswerAnswerAnswer The selling price of the vehicle is $ P/Y C/Y N PMT F

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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