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You want to lease a set of golf clubs from Pings Ltd. The lease contract is in the form of 24 equal monthly payments at
You want to lease a set of golf clubs from Pings Ltd. The lease contract is in the form of 24 equal monthly payments at a 9.80 percent stated annual interest rate, compounded monthly. Because the clubs cost $2,700 retail, Pings wants the PV of the lease payments to equal $2,700. Suppose that your first payment is due immediately. What will your monthly lease payments be? (Do not round intermediate calculations. Round your final answer to 2 decimal places. Omit $ sign in your response.) Lease payment $ 269.57
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