A contract requires lease payments of $800 at the beginning of every month for 9 years. a. What is the present value of the contract
A contract requires lease payments of $800 at the beginning of every month for 9 years.
a. What is the present value of the contract if the lease rate is 4.50% compounded annually?
Round to the nearest cent
b. What is the present value of the contract if the lease rate is 4.50% compounded monthly?
Round to the nearest cent
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Authors: Andrew W. Lo, Shomesh E. Chaudhuri
1st Edition
0691183821, 978-0691183824
