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Suppose the risk-free interest rate is 5.2% APR with monthly compounding. If a $1.59 million MRI machine can be leased for 7 years for $20,000

image text in transcribed Suppose the risk-free interest rate is 5.2% APR with monthly compounding. If a $1.59 million MRI machine can be leased for 7 years for $20,000 per month, what residual value must the lessor recover to break even in a perfect market with no risk? Assume that the first payment is made immediately, so the payments occur at the beginning of each month. The residual value in 84 months is ? (Round to the nearest dollar.) Suppose the risk-free interest rate is 5.2% APR with monthly compounding. If a $1.59 million MRI machine can be leased for 7 years for $20,000 per month, what residual value must the lessor recover to break even in a perfect market with no risk? Assume that the first payment is made immediately, so the payments occur at the beginning of each month. The residual value in 84 months is ? (Round to the nearest dollar.)

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