The lease payments are made at the beginning of each month


Michelle and Dan would like to lease an Audi A6. They have negotiated a price of $51,000 for the car. They have enough money to make a $4,000 down payment. The dealer will give them a 36-month lease at 6.1% APR. The buy-out at the end of the lease is $26,010. The lease payments are made at the beginning of each month. What are the lease payments? (Ignore taxes.)

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Finance Basics: The lease payments are made at the beginning of each month
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