A construction company agreed to lease payments of $621.43 on construction equipment to be made at the end of every three months for 5 years. Financing is at 9% compounded quarterly. (a) What is the value of the original lease contract? (b) If, due to delays, the first 8 payments were deferred, how much money would be needed after 9 payments to bring the lease payments up to date? (c) How much money would be required to pay off the lease after 9 payments? (d) If the lease were paid off after 9 payments, what would the total interest be? (e) How much of the total interest would be due to deferring the first 8 payments? (a) The value of the original lease contract is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The company would have to pay $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The company would need $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The interest would be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (e) The interest resulting from the deferral is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) A construction company agreed to lease payments of $621.43 on construction equipment to be made at the end of every three months for 5 years. Financing is at 9% compounded quarterly. (a) What is the value of the original lease contract? (b) If, due to delays, the first 8 payments were deferred, how much money would be needed after 9 payments to bring the lease payments up to date? (c) How much money would be required to pay off the lease after 9 payments? (d) If the lease were paid off after 9 payments, what would the total interest be? (e) How much of the total interest would be due to deferring the first 8 payments? (a) The value of the original lease contract is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) The company would have to pay $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) The company would need $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The interest would be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (e) The interest resulting from the deferral is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
