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You want to lease a set of golf clubs from Pings Ltd. The lease contract is in the form of 36 equal monthly payments at a stated annual interest rate of 9.2 percent, compounded monthly. Since the clubs cost $2,300 retail, Pings wants the PV of the lease payments to equal $2,300.
Suppose that your first payment is due immediately. What will your monthly lease payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)
Lease payment
$
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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