Fletcher Machine Shop has decided to lease a piece of equipment for eight gears rather than finance
Question:
Fletcher Machine Shop has decided to lease a piece of equipment for eight gears rather than finance the purchase of the equipment at an interest rate of 7.2% compounded monthly. It has set up a long term lease liability of $84,000. What is the lease payment at the beginning of each month?
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The lease payments form a simple annuity due with Wi...View the full answer
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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