A company has a lease expiring on December 31, 1988. The company is notified that the monthly rent will double as of January 1, 1987 This rate will be good for two years. The company wishes to dampen the effect of the rent increase by paying a higher rent for 2.5 years, starting July 1, 1986, Calculate the percentage increase on July 1, 1986 assuming an interest rate of 12 percent compounded monthly A company has a lease expiring on December 31, 1988. The company is notified that the monthly rent will double as of January 1, 1987 This rate will be good for two years. The company wishes to dampen the effect of the rent increase by paying a higher rent for 2.5 years, starting July 1, 1986, Calculate the percentage increase on July 1, 1986 assuming an interest rate of 12 percent compounded monthly