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You are currently paying 250 per month to lease your office

Question - You are currently paying $250 per month to lease your office phone equipment. You have three years (36 months) left on the five-year (60 month) lease. What would have been the equivalent purchase price two years ago if the interest rate is 1% per month?

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Accounting Basics: You are currently paying 250 per month to lease your office

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Accounting Basics: You are currently paying 250 per month to lease your office

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