Question

A marketing manager leases a car for 24 months after agreeing to a negotiated price of $43,250 and makes a down payment that is 20% of the negotiated price. Find the

monthly lease payment (in dollars) if the money factor is 0.0022. Assume that the residual value is 51% of the MSRP of $47,900 and there is no trade-in. (Round your answer to the nearest cent.)