Jenny Enterprises has just entered a lease agreement for a new manufacturing facility. Under the terms of the agreement, the company agreed to pay rent of $21,000 per month for the next 9 years with the first payment due today. If the APR is 8.52 percent compounded monthly.

What is the value of the payments today?

Answer rating: 100% (QA)

To calculate the value of the payments today we need to determine the present valu... View the full answer