A contract requires lease payments of $900 at the beginning of every month for 8 years. a.

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A contract requires lease payments of $900 at the beginning of every month for 8 years.

a.What is the present value of the contract if the lease rate is 3.50% compounded annually?

Round to the nearest cent

b.What is the present value of the contract if the lease rate is 3.50% compounded monthly?

Round to the nearest cent

Posted Date: May 17, 2024 09:07 PM

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A contract requires lease payments of $900 at the beginning of every month for 8 years. a.

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