Bruce needs construction tools and equipment to start his new job. He has signed a lease contract

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Bruce needs construction tools and equipment to start his new job. He has signed a lease contract valued at $5200, and will make payments of $270 at the beginning of every three months for six years. What is the nominal annual rate of interest compounded quarterly charged on the lease?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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