Veronica secured a lease on a machine by paying $1,800 as a down payment and then $750 at the beginning of every month for 6 years. The lease rate was 3.75% compounded monthly. What was the principal...

Veronica secured a lease on a machine by paying $1,800 as a down payment and then $750 at the beginning of every month for 6 years. The lease rate was 3.75% compounded monthly.

1. What was the principal amount of the lease?


2. What was the cost of the machine?


3. What was the amount of interest paid over the term of the lease?