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A lease agreement valued at $54 000 requires payment of $5200 every three months in advance. The payments are deferred for three years, and money

A lease agreement valued at $54 000 requires payment of $5200 every three months in advance. The payments are deferred for three years, and money is worth 11% compounded quarterly. a) How many lease payments are to be made under the contract? b) What is the size of the final lease payment? (please show formula used and work done to get answer)

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