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A lease of $8,300 had to be repaid with payments of $350 at the beginning of...

A lease of $8,300 had to be repaid with payments of $350 at the beginning of every month. The interest rate charged was 7.50% compounded monthly.

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

It will take ____ payments.

Rounded up to the next payment

b. What is the size of the final payment?

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jeff jeffy answered 2 years ago
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