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How many payments are required to repay the debt

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Reference no: EM133062016

Question - A lease of $9,300 had to be repaid with payments of $325 at the beginning of every month. The interest rate charged was 7.00% compounded monthly.

Required -

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

b. What is the size of the final payment?

Reference no: EM133062016

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