You want to lease a set of golf clubs from holes ltd the, Ask an Expert

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You want to lease a set of golf clubs from Holes, Ltd. The lease contract is in the form of 24 equal monthly payments at a 12 percent, compounded monthly. Since the clubs cost s4.000 retail, Holes wants the present value of the lease payment to equal $4,000. Suppose you first payment is due immediately. What will your monthly lease payment be? Round off your final answer to one digit after the decimal point. State your answer as 'x.x'.

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Financial Management, Finance

Category:- Financial Management
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