A car rental agency which leases cars to another firm buy, Financial Management

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A car rental agency which leases cars to another firm buy

A car rental agency which leases cars to another firm buy car for $9,000 and sells them for $6,000 two years later. It charges a monthly rate the second year of rental of 80 percent of that of the first year. the agency seeks 1 percent per month return. What are the monthly rates each year?

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Financial Management: A car rental agency which leases cars to another firm buy

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