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York Construction agreed to lease payments of $ 7 6 2 . 7 9 on construction equipment to be made at the end of each

York Construction agreed to lease payments of $762.79 on construction
equipment to be made at the end of each month for six years. Financing is
at 15% p.a. compounded monthly.
a. If the lease were paid off after ten months, what would the total interest
be?
b. How much of the total interest would be due to deferring the first nine
payments?

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