page 138 by xiaohuicaicai

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									                                    A                                 B                 C      D         E         F           G
 1                                                            Lease
 2
 3   Capitalized Amount                                                                     Instructions: Enter values in the
 4     Cash Value                                                         $30,000.00
                                                                                            yellow cells. After entering the data,
 5   + Other pre-term advances                                             $7,040.00
 6   - Pre-term payments                                                  $12,240.00        the spreadsheet will recalculate all
 7   = Net Capitalized Amount                                             $24,800.00        the calculated values, including the
 8   Periodic Payments (Excluding taxes)                                     $400.00
 9   Periods per year                                                              12       APR. Then you must manually
10   Number of periods in term                                                     36       activate the Solver (Tools/Solver)
11   Assumed Residual Payment                                              $15,000.00       function. When using Solver, the %
12   Periodic payments paid at or before beginning of term                          1
13                                                                                          in cell B14 must be set to at least
14   Estimated periodic rate                                 0.00644538802860311            1.0. Next, in the Solver Parameters
15   Capitalized Amount                                                 $24,800.00
16   PV: Periodic Payments                                       12897.3530418805           function, enter B18 in the "Set
17   PV: Assumed Residual Payment (AsRP)                         11902.6469585833           Target Cell" value. The target value
18   CA - (PV:PP + PV:AsRP)                                            -4.6386E-07          is 0. In the second part of the
19   APR                                                                    7.734%
20                                                                                          function, enter B14 in the "By
21                                                                                          Changing Cell". Using Solver, the
22
                                                                                            value in the changed cell is the
23
24                                                                                          periodic rate that equalizes the
25                                                                                          present value of the capitalized
26
27                                                                                          amount with the sum of the present
28                                                                                          value of the periodic payments and
29
                                                                                            the present value of the assumed
30
31                                                                                          residual payment.

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