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A lease of $8,900 had to be repaid with payments of $350 at the beginning of every quarter. The interest rate charged was 7.50% compounded
A lease of $8,900 had to be repaid with payments of $350 at the beginning of every quarter. The interest rate charged was 7.50% compounded quarterly.
a.How many payments are required to repay the debt?
b.What is the size of the final payment?
Please show full formula details in excel
Thank you
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