A contract requires lease payments of $900 at the beginning of every month for 5 years. a. What is the present value of

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answerhappygod
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A contract requires lease payments of $900 at the beginning of every month for 5 years. a. What is the present value of

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A contract requires lease payments of $900 at the beginning ofevery month for 5 years.
a. What is the present value of thecontract if the lease rate is 4.25% compounded annually?
Round to the nearest cent
b. What is the present value of thecontract if the lease rate is 4.25% compounded monthly?
Round to the nearest cent
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