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What is the size of the final payment

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Reference no: EM132691926

A lease of $8,900 had to be repaid with payments of $350 at the beginning of every quarter. The interest rate charged was 7.50% compounded quarterly.

a. How many payments are required to repay the debt?

b. What is the size of the final payment?

Please show full formula details in excel

Reference no: EM132691926

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