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Business, 22.04.2021 01:40 arslza6

15. You are considering leasing a car. You notice an ad that says you can lease the car you want for K477.00 per month. The lease term is 60 months with the first payment
due at inception of the lease. You must also make an additional down payment of
K2,370. The ad also says that the residual value of the vehicle is K20,430. After
much research, you have concluded that you could buy the car ſor a total "driveout"
price of K33,800. What is the quoted annual interest rate you will pay with the lease?​

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