What is the present value of the lease

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Reference no: EM132039065

You are paying a lease on an apartment and are wondering what the present value of the payments are. The current monthly payment is $935.75. It is 4 year lease. Your current required rate of return is 10.3% (APR).

What is the present value of the lease?

Which equation should be used and what numbers should be adapted to fit the yearly or monthly characteristc?

Reference no: EM132039065

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