A property development agreement valued at $45 000 requires annual lease payments of $15 000. The first

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A property development agreement valued at $45 000 requires annual lease payments of $15 000. The first payment is due five years after the date of the agreement and interest is 11% compounded semi-annually. For how long will payments be made?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:05 AM

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A property development agreement valued at $45 000 requires annual lease payments of $15 000. The first

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PV nc defer 45 00000 PMT 15 00000 i 55 d 5 c 2 p 10552 1 1113025 1 113025 FV 45 0000011130...View the full answer

Contemporary Business Mathematics with Canadian Applications

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