Island Water Taxi has decided to lease another boat for five years rather than to finance the purchase of the boat at an interest rate of 10.5% compounded monthly. It is treating the lease as a capital lease and has set up a long-term lease liability of $43,000. What is the lease payment at the beginning of each month?

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The Answer of Island Water Taxi has decided to lease another boat for five years rather than to finance the purchase of the boat at an interest rate of 10.5% compounded monthly. It is treating the lease as a capital lease and has set up a long-term lease liability of $43,000. What is the lease payment at the beginning of each month?

Island Water Taxi Has Decided to Lease Another Boat for Five