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SOLVE USING EXCEL FUNCTIONS The company A&E is studying the purchase through a long-term lease of the building it currently occupies, since the owner of
SOLVE USING EXCEL FUNCTIONS The company A&E is studying the purchase through a long-term lease of the building it currently occupies, since the owner of the property put it up for sale suddenly. The building is offered at a price of $ 170,000. Since this year's lease has already been paid, the next annual payment of $ 30,000 will not be made until the end of this year. Because A&E has been a good tenant, the owner offered to sell the building to him for $ 160,000. If the company buys it without a down payment, how long will it take before it recovers its investment with an interest rate of 12% per year?
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