Compute the annual lease payment

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Given the following information, compute the annual lease payment (paid in advance) that a lessor will require: a) Purchase price of $260,000, interest rate of 13 per cent, 5 year lease period and no residual value b) Purchase price of $138,000, interest rate of 6 per cent, 9-year lease period and a near-certain residual value of $20,000. c) Purchase price of $773,000, interest rate of 9 per cent, 10-year lease period and no residual value.

Reference no: EM13954849

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