please show all word detail how you obtain answer thanks
What is the value of this 20 year lease? The first payment, due one year from today is $2,000 and each annual payment will increase by 4%. The discount rate used to evaluate similar leases is 9%. (Round to the nearest dollar.)
|
|
$ 24,361
|
|
|
$ 68,000
|
|
|
$ 39,856
|
|
|
$ 40,000
|
Leave a Reply
Want to join the discussion?Feel free to contribute!