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Please show the work required to find the TIME ZERO PV. What is the present value of the following monthly lease? Lease term: 20 years
Please show the work required to find the TIME ZERO PV.
What is the present value of the following monthly lease? Lease term: 20 years i.e., 240 payments, first payment at time 0) Payment amount: $650 per month Annual discount rate: 14% (Hint-remember to convert the annual discount rate into an equivalent monthly discount rate.) A. $54,001.78 B. $54,623.02 C. $54,896.89 D. $55,499.60 E. $55,741.46 F. $56,353.44 G. $56,586.03 H. $57,207.28Step by Step Solution
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