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Lada Lada
wrote...
Posts: 357
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6 years ago
The monthly rent payment on computer equipment is $30.00 payable in advance. What yearly payment in advance would satisfy the lease if interest is 12% compounded monthly?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
PV (due)   = 30 (1.01)
   = 30(11.25507747)(1.01)
   = $341.03
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