A lease requiring equal payments at the beginning of every three months for eight years is valued as a liability of $83,455 using an interest rate of 7.2% compounded annually. What is the size of the quarterly lease payments?
A) $3,3902.48
B) $3,284.64
C) $4,216.11
D) $3,370.77
E) $4,506.65
Correct Answer:
Verified
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