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Lab 11: Annuities - Rates,
Term, and Lease Applications
(Question 20)
Name: ANITA LONERGAN
Date 2021-04-23
Question 20 [5 points]
Owens Accounting Inc. leases its office and computer equipment. Two years ago, it signed a five-year lease requiring semi-annual payments of
$15,300. Financing the equipment would have required a bank loan at 4% compounded monthly
. What is the current amount of the lease liability?
For full marks your answer(s) should be rounded to the nearest cent.
Liability = $ 0.00
घ7
Official Time: 8:32:25
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a) ENG​