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You have to buy a new copier. The cost of the copier is $2,050, plus $385 per year in maintenance costs. The copier will last
You have to buy a new copier. The cost of the copier is $2,050, plus $385 per year in maintenance costs. The copier will last for five years. Alternatively a local company offers to lease the copier to you and do the maintenance as well. If your discount rate is 6.1%, what is the most you would be willing to pay per year to lease the copier (your first lease payment is due in one year)? The most you would be willing to pay per year to lease the copier is $ - (Round to the nearest cent.)
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