Based on the information given in the question the approximate value of monthly lease payment is 443.73, which relph paid.
Given that, in $
Principal value =32000
[tex]\begin{aligned}\text{Residual Value}&=\text{Principal}\times\text{ Residual Percentage}\\&= \$32,000\times 72\%\\&=\$23040.\end{aligned}[/tex]
[tex]\begin{aligned}\text{Depreciation}&=\text{Principal}-\text{ Residual value}\\&=32,000-23040\\&=8960\end{aligned}[/tex]
[tex]\begin{aligned}\text{Base monthly lease payment}&=\frac{Depreciation}{ Residual value}\\&=\frac{8960}{36}\\&=248.89\end{aligned}[/tex]
[tex]\begin{aligned}\text{Interest per month}&=\text{Principal amount}+{ Residual value}\times{money factor}\\&=\text{8960}+{23040}\times{0.00354}\\&=194.84\end{aligned}[/tex]
[tex]\begin{aligned}\text{Monthly lease payment}&=\text{Base monthly lease payment}+{Interest per month}\\&=\text{248.89}+{194.84}\\&=443.73\end{aligned}[/tex]
Hence, the monthly lease payment is approximately $ 443.73
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