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Advanced Corporate Finance Question---please see attached---I only get one chance to submit this, so the answer has to be correct You want to lease a
Advanced Corporate Finance Question---please see attached---I only get one chance to submit this, so the answer has to be correct
You want to lease a set of golf clubs from Pings Ltd. The lease contract is in the form of 36 equal monthly payments at a stated annual interest rate of 9.2 percent, compounded monthly. Since the clubs cost $2,300 retail, Pings wants the PV of the lease payments to equal $2,300. Suppose that your first payment is due immediately. What will your monthly lease payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).) Lease payment $Step by Step Solution
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