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What is the term of the? lease

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For his? business, Nicholas leased equipment valued at ?$25,000. The terms of the lease required payments of ?$1500 every month. If the first payment is due fifteen months after the lease was signed and interest is 9?% compounded quarterly?, what is the term of the? lease? State your answer in years and months? (from 0 to 11? months).

Reference no: EM132968397

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