Western Railway leases land owned by the City of Regina, paying $11 000 at the beginning of

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Western Railway leases land owned by the City of Regina, paying $11 000 at the beginning of each year. For what amount should Western offer to buy the land if interest is 6.5% com- pounded annually?
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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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