A capital lease for office equipment requires 20 annual payments of $10,000 each,with the first payment due immediately.The interest rate on the lease is 10%.What is the cost of the office equipment?

Name: A capital lease for office equipment requires 20 annual payments of $10,000 each,with the first payment due immediately.The interest rate on the lease is 10%.What is the cost of the office equipment?
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Quizplus · Accepted Answer

C) (n = 19; I = 10; pmt = -10,000 calc PV) + $10,000 = $93,649.20

A Capital Lease for Office Equipment Requires 20 Annual Payments