10 3 Question 9 of 15 A contract requires lease payments of $800 at the beginning of every month for 10 years. a. What is the present value of the contract if the lease rate is 5.25% compounded annually? $0.00 Round to the nearest cent =) b. What is the present value of the contract if the lease rate is 5.25% compounded monthly? 3 $0.00 e ALL ATTEM Close Date: Thu, Nov 12, 2020 11:59 PM 3) Question 9 of 15 +3) +2) A contract requires lease payments of $800 at the beginning of every month for 8 years. 2) 2) a. What is the present value of the contract if the lease rate is 4.50% compounded annually? 3) 5) $0.00 2) Round to the nearest cent 4) Solution 3) The correct answer is $64,853.56. 12) Financial Calculator Method Algebraic Method ALL ATTEMPTS