The card was designed to delegate purchase authority to the cardholder enabling you to quickly and conveniently purchase approved items directly from those vendors that accept the MasterCard Purchasing Card. The University contracted with First Chicago National Bank to administer this program. And, there is no pre-payment penalty. Although the interest rate is pegged to U.S. Treasuries, which vary weekly, the rate for each individual lease against the master lease is locked in at inception and will not fluctuate. The rate next week for a different lease may be slightly higher or lower, depending on the Treasury price for like term bonds.
Longer term leases benefit from a lower rate and lower quarterly payments.
However, the longer the term the greater the total cost. The advantages to this agreement include pre-approved terms and conditions, a more expedient approval process, and interest rates that are considerably lower than previously realized from a multitude of manufacturers and third party lessors. For additional information contact Fred Hethcote at 486-2616. This configuration has 32 MB of RAM and a 2.5 GB hard drive. Site survey 2.