Question: note: may you please solve and explain with using formulas 10. Under its current rent agreement, a company is obliged to make annual payments of

note: may you please solve and explain with using formulas

10. Under its current rent agreement, a company is obliged to make annual payments of 7,500 for the building it occupies. Payments are due on 1 January 2006, 1 January 2007 and 1 January 2008. If the company wishes to cover these payments by investin a single sum in its bank account that pays 7.5% pa compound, what sum must be invested on 1 January 2005

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