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3. Jenny Enterprises has just entered a lease agreement for a new manufacturing facility. Under the terms of the agreement, the company agreed to pay

3.

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 $10,000 per month for the next 5 years with the first payment due today. If the APR is 5.88 percent compounded monthly, what is the value of the payments today?

$536,957.80

$507,138.08

$521,293.39

$473,903.09

$518,751.51

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