Suppose the risk-free interest rate is 9% APR with monthly compounding. If a $2,000,000 MRI...
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Suppose the risk-free interest rate is 9% APR with monthly compounding. If a $2,000,000 MRI machine can be leased for 6 years for $27,000 per month (as usual, the first lease payment occurs immediately), what residual value must the lessor recover to break even in a perfect market with no risk? Disregard taxes. Your answer must be accurate to the nearest dollar; that is, it must have no decimals. Do not use the comma separator, so that if the answer is, say, $1,234.56 you would write it as 1235 (Acceptable error = $1,000)
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