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Colston Leasing leased a car. Colston will received $225 a month for 36 months. (Assumes...

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Accounting

Colston Leasing leased a car. Colston will received $225 a month for 36 months. (Assumes the leasing payments occur at the end of each month) What is the present value of the lease if the annual interest rate in the lease is 18% ? Use the PV function in excel to compute the present value. What is the present value of the lease if the car can be sold for $7,000 at the end of three years?

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