Luis leased equipment worth $55,000 for 8 years. If the lease rate is 5.25% compounded monthly, calculate the size of the lease payment that is required to be made at the beginning of each month.
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Luis leased equipment worth $55,000 for 8 years. If the lease rate is 5.25% compounded monthly, calculate the size of the lease payment that is required to be made at the beginning of each month.
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- For his business, Nicholas leased equipment valued at $23 000. The terms of the lease required payments of $1800 every month. If the first payment is due nine months after the lease was signed and interest is 11% compounded monthly, what is the term of the lease?For his business, Nicholas leased equipment valued at $23000 The terms of the lease required payments of $1600 every month.If the first payment is due six months after the lease was signed and interest is 7% compounded semi-annually, what is the term of the lease? State your answer in years and months (from 0 to 11 months).For his business, Nicholas leased equipment valued at $19,000. The terms of the lease required payments of $1550 every month. If the first payment is due eighteen months after the lease was signed and interest is 5% compounded semi-annually, what is the term of the lease? State your answer in years and months (from 0 to 11 months).
- Ariel leased equipment worth $70,000 for 10 years. If the lease rate is 4.75% compounded monthly, calculate the size of the lease payment that is required to be made at the beginning of each month. Round to the nearest centPaul secured a lease on a machine by paying $1,700 as a down payment and then $500 at the beginning of every month for 6 years. The lease rate was 3.50% compounded monthly. a. What was the principal amount of the lease?For his business, Nicholas leased equipment valued at $25,000. The terms of the lease required payments of $1950 every month. If the first payment is due eighteen months after the lease was signed and interest is 5% compounded semi-annually, what is the term of the lease? State your answer in years and months (from 0 to 11months). The term of the lease is .year(s) and .month(s)
- Veronica secured a lease on a machine by paying $1,800 as a down payment and then $750 at the beginning of every month for 6 years. The lease rate was 3.75% compounded monthly. What was the principal amount of the lease? What was the cost of the machine? What was the amount of interest paid over the term of the lease?Katherine leased equipment worth $70,000 for 8 years. If the cost of borrowing is 7.86% compounded quarterly, calculate the size of the lease payment that is required to be made at the beginning of each quarter.Katie secured a lease on a machine by paying $1,550 as a down payment and then $650 at the beginning of every month for 6 years. The lease rate was 4.50% compounded monthly. a. What was the principal amount of the lease? $0.00 Round to the nearest cent b. What was the cost of the machine? $0.00 Round to the nearest cent c. What was the amount of interest paid over the term of the lease? $0.00 Round to the nearest cent
- A vehicle can be purchased by paying $18,000 now, or it can be leased by paying $515 per month for the next three years, with the first payment due on the day of signing the lease. What nominal annual rate of interest compounded monthly is charged on the lease?Kyle secured a lease on a machine by paying $2,000 as a down payment and then $700 at the beginning of every month for 5 years. The lease rate was 5.75% compounded monthly. a. What was the principal amount of the lease? Round to the nearest cent b. What was the cost of the machine? Round to the nearest cent c. What was the amount of interest paid over the term of the lease? Round to the nearest centLand is leased in perpetuity at $1500 due at the beginning of each month. If money is worth 12% compounded monthly, what is the present value of the lease?