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I need help on problem 6-15 using the template provided. 6-15. Mutt Rescue plans to lease some new equip- ment. The lease calls for payments
I need help on problem 6-15 using the template provided.
6-15. Mutt Rescue plans to lease some new equip- ment. The lease calls for payments of $750 per year and is based on 10 annual pay- ments and a 6 percent interest rate. As an accommodation to the not-for-profit orga- nization, the bank has agreed to lease pay- ments at the end of each year rather than PART II Planning the beginning, which is more common. What is the present value of the obligation? How much did the bank lose by allowing pay- ments at the end of each year rather than at the beginning? AutosaveOff File Home Insert Page Layout FormulasDataRevien i) PROTECTED VIEN Be carefu-files from the Internet can contain vir F33 vie 1 Problem 6-15 6 Annual Lease Payment 10 7 Number of Payments 8 Lease rate 9 FV 10 Type (in arrears) 11 Type (in advance) 12 13 14 PV in arrears 15 PV in advance 16 Loss to bank 17 18 19 20 21 -pv(rate,nper,pmt.fv,type) 23 24 25 26 28 29 5-28 5-29 5-35 6-13 6-15 Ready
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