The lease contract is in the form of 24 equal monthly payments at a 12 percent, compounded monthly. Since the clubs cost $4,000 retail, Holes wants the present value of the lease payments to equal $4,000. Suppose you first payment is due immediately. What will your monthly lease payment be?
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The lease contract is in the form of 24 equal monthly payments at a 12. ... Suppose you first payment is due immediately. ... One example of an annuity due would be a rent payment
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