Multiple Choice
Equipment with a fair value of $625,000 and zero residual value is to be leased through annual lease payments made at the start of each year over 10 years. If interest is 6% compounded quarterly, determine the value of the annual lease payments.
A) $53,385.45
B) $58,478.56
C) $62,500.00
D) $80,000.06
E) $80,525.57
Correct Answer:
Verified
Correct Answer:
Verified
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