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What is the annual rate of interest being charged

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Reference no: EM132958353

Problem 1: What is the annual rate of interest being charged? The total interest paid over the entire term of the lease? Use (TVM) Time Value of Money and IRR / RATE function in excel to find the rate of interest and interest paid over the entire term of the lease.

Lease Term: 36 months

Lease Payment: $68,742.10

Purchase Price: $1,900,000.00

Reference no: EM132958353

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