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A tenant offers to sign a lease paying a rent of 2500 per

Question: A tenant offers to sign a lease paying a rent of $2,500 per month, in advance (i.e., the rent will be paid at the beginning of each month), for seven years. At 9% nominal annual interest compounded monthly, what is the present value of this lease?

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Finance Basics: A tenant offers to sign a lease paying a rent of 2500 per

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