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For his business, Jonas leased equipment valued at $26,000 . The terms of the lease required payments of $1650 every month . If the first
For his business, Jonas leased equipment valued at $26,000. The terms of the lease required payments of $1650 every month. If the first payment is due six months after the lease was signed and interest is 8% compounded semi-annually, what is the term of the lease? State your answer in years and months (from 0 to 11 months).
Please show clearly the calculations done by hand so I can follow along and understand. Thanks will upvote!
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