Question
A $2500 computer system can be leased for $79 per momth.After 3 years it can be purchased for $750. This is also the salvage value
A $2500 computer system can be leased for $79 per momth.After 3 years it can be purchased for $750. This is also the salvage value if the system was purchased originally. what is the effective annual rate for leasing the computer?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the effective annual rate EAR for leasing the computer system we ne...
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Business Mathematics In Canada
Authors: Ernest Jerome
7th edition
978-0071091411, 71091416, 978-0070009899
