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S8-10 (Learning Objective 6: Calculate the present value of an investment) Artest Lease leased a...

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Accounting

S8-10

(Learning Objective 6: Calculate the present value of an investment) Artest Lease leased a car. Artest will receive $300 a month for 60 months.

1. What is the present value of the lease if the annual interest rate in the lease in 12%? Use the PV function in Excel to compute the present value.

2. What is the present value of the lease if the car can be sold for $5,000 at the end of five years?

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