1. An investment in a lease offers returns of $1300 per month due at the beginning of each month for five years. What investment is justified if the returns are deferred for two

years and the interest required is 3% compounded annually?

2) A property development agreement valued at $53,000 requires monthly lease payments of $6,000. The first payment is due three years after the date of the agreement and interest is 11% compounded quarterly. For how long will payments be made?