NO.PZ2023040402000044
问题如下：
H&L Airlines is considering whether to borrow money or use cash on hand (equity) to purchase or lease a new aircraft needed for its business. The company’s unsecured IBR is 7%, and its cost of equity is 12%.
The implied interest cost of this lease is closest to:
选项：
A.3.89%
4.67%
5.48%
解释：
C is correct. The cash flows associated with the lease are as follows:
Solving for the discount rate that equates the initial net cash outflow of 105 million to the present value (PV) of the net cash flows beyond the initial year results in a rate of 5.48%.
Using a calculator: PMT = 10, PV = –105, N = 15, FV = 10
印象中没讲过IBR，这道题也没用到这个条件。这是考点吗？
