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A contract requires lease payments of $ 8 0 0 at the beginning of every month for 8 years. a . What is the present

A contract requires lease payments of $

800

at the beginning of every month for

8

years.

.

What is the present value of the contract if the lease rate is

5.22 %

compounded annually?

.

What is the present value of the contract if the lease rate is

5.22 %

compounded daily?

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