Question 13 of 13 Calculate the size of the monthly lease payments for 11 years using...

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Question 13 of 13 Calculate the size of the monthly lease payments for 11 years using a lease rate of 4.83% compounded monthl

Answer 1

Answer #1

Value of Equipment = $29,000

Time Period = 11 years

Interest Rate = 4.83%

Calculating Monthly Payment,

Using TVM Calculation,

PMT = BEG[PV = 29,000, FV = 0, N = 132, I = 0.0483/12]

PMT = $282.50

Monthly Lease Payment = $282.50

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Answer 2

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