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A contract requires lease payments of $800 at the beginning of every month for 7 years. What is the present value of the contract if
A contract requires lease payments of $800 at the beginning of every month for 7 years.
What is the present value of the contract if the lease rate is 4.50% compounded annually?
What is the present value of the contract if the lease rate is 4.50% compounded monthly?
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