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1) A tract of land is leased in perpetuity at $1,250 due at the beginning of each month. If money is worth 7.5% compounded monthly,
1) A tract of land is leased in perpetuity at $1,250 due at the beginning of each month. If money is worth 7.5% compounded monthly, what is the present value of the lease? (10 marks)
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Public Finance And Public Policy
Authors: Jonathan Gruber
6th Edition
1319105254, 9781319105259
