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Carondelet hospital is evaluating a lease arrangement for

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Carondelet Hospital is evaluating a lease arrangement for its ambulance fleet. The total value of the lease is $420,000. The hospital will be making equal monthly payments starting today.

a. What is the monthly interest rate if the lease payments are $24,000 per month for twenty-four months?

b. What is the monthly interest rate if the lease payments are $24,000 per month for thirty-six months?

c. What is the monthly interest rate if the lease payments are $30,000 per month for thirty-six months?

Reference no: EM13485990

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