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olchik [2.2K]
3 years ago
8

On January 1, Garcia Supply leased a truck for a three-year period, at which time possession of the truck will revert back to th

e lessor. Annual lease payments are $17,000 due on December 31 of each year, calculated by the lessor using a 5% discount rate. Negotiations led to Garcia guaranteeing a $47,700 residual value at the end of the lease term. Garcia estimates that the residual value after four years will be
Business
1 answer:
Brut [27]3 years ago
3 0

Answer:

PV=?

N=3

FV= 47,700

PMT= 17,000

I= 5%

Put values in financial calculator

Pv=$87,500

Now use this value to calculate residual value at the end of year 4

PV= 87,500

N=4

Fv=?

PMT= -17,000

I=5

$33,084= residual value in 4 years.

Explanation:

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