Question
Mckoy Leasing leased a car to a customer. Mckoy will receive $325 a month, at the end of each month, for 60 months. Use the
Mckoy Leasing leased a car to a customer. Mckoy will receive $325 a month, at the end of each month, for 60 months. Use the PV function in Excel Superscript to calculate the answers to the following questions
1. What is the present value of the lease if the annual interest rate in the lease is 12 %? (Do not round intermediary computations, but round your final answer to the nearest cent.)
2. What is the present value of the lease if the car can likely be sold for $5,000 at the end of five years? (Do not round intermediary computations, but round your final answer to the nearest cent.)
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Managing The Audit Function A Corporate Audit Department Procedures Guide
Authors: Michael P. Cangemi, Tommie W. Singleton
3rd Edition
0471281190, 978-0471281191
