The lease payments at the beginning and by the end of year
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1, The Lancer Leasing Company has agreed to lease a hydraulic trencher to the Chavez Excavation Company for $25,000 a year over the next eight years. Lease payments are to be made at the beginning of each year. Assuming that Lancer invests these payments at an annual rate of 10 percent, how much will it have accumulated by end of the eighth year?
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This post shows how to calculate the lease payments at the beginning and by the end of the last year.
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