A ₱2500 computer system can be leased for ₱79 per month for 3 years. After 3 years, it can be purchased for ₱750. This is also the salvage value if the system was purchased originally. What is the effective annual rate for leasing the computer? Solutions manual with formula we are used. Without using Microsoft Exce

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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A ₱2500 computer system can be leased for ₱79 per month for 3 years. After 3 years, it can be purchased for ₱750. This is also the salvage value if the system was purchased originally. What is the effective annual rate for leasing the computer?

Solutions manual with formula we are used. Without using Microsoft Excel.

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