A property development agreement valued at $41,000 requires monthly lease payments of $6,000. The first payment is
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Question:
A property development agreement valued at $41,000 requires monthly lease payments of $6,000. The first payment is due six years after the date of the agreement and interest is 11% compounded semi-annually. For how long will payments bemade?
The payments will be made for ____ year(s) and ____ month(s).
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