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27-02-2020
Business

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A firm leases equipment under a long-term finance lease (analogous to an installment purchase) that calls for 12 semiannual payments of $39,014.40. The first payment is due at the inception of the lease. The annual rate on the lease is 6%. What is the value of the leased asset at inception of the lease?

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micahdavid126 micahdavid126

29-02-2020

Answer:

PVAD = $39,014.40 × 10.25262 * = $400,000

*PVAD of $1: n = 12; i = 3%

Explanation:

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