What is the present value of a one-year lease, Microeconomics

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What is the present value of a one-year lease

Problem

You are leasing some furniture for your apartment. The monthly lease is for $395/month, payable at the beginning of the month. If your personal cost of capital is 3%, what is the present value of a one-year lease?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What is the present value of a one-year lease

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