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You want to lease a set of golf clubs from Pings Ltd. The lease contract is in the form of 12 equal monthly payments at

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You want to lease a set of golf clubs from Pings Ltd. The lease contract is in the form of 12 equal monthly payments at an APR of 8.6 percent, compounded monthly. Because the clubs cost $1,800 retail, Pings wants the PV of the lease payments to equal $1,800

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