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you and your brother agree to rent your lake house for the next five years. the lease agrees to pay $5000 each year for the
you and your brother agree to rent your lake house for the next five years. the lease agrees to pay $5000 each year for the next five years starting today. you also agree to cover $1500 maintenance costs, but only agree to pay for these maintenance costs every other year starting today (today, again in two years, again in four years, etc.). assuming an annual interest rate of 5%, what is the present value of this arrangement?
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