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A lease of $7,400 had to be repaid with payments of $325 at the beginning...

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Accounting

A lease of $7,400 had to be repaid with payments of $325 at the beginning of every quarter. The interest rate charged was 6.00% compounded quarterly.

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

Rounded up to the next payment

b. What is the size of the final payment?

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