4.49 You want to lease a set of golf clubs from Pings Ltd. for $4,000. The lease...

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4.49 You want to lease a set of golf clubs from Pings Ltd. for $4,000. The lease contract is in the form of 24 months of equal payments at a 12% annual percentage rate (APR). Suppose payments are due in the beginning of the month and your first payment is due immediately. What will your monthly lease payment be?

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Corporate Finance

ISBN: 9780071229036

6th International Edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe

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