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A lease on an office building calls for a payment of $3,500,000 today and annual payments of ...

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A lease on an office building calls for a payment of $3,500,000 today and annual payments of ...

A lease on an office building calls for a payment of $3,500,000 today and annual payments of $5,000,000 for 40 years. The first of the annual payments will be payable 30 months from now when the building becomes ready for occupancy. Using a discount rate of 9% compounded semiannually, calculate the present value of the lease.

▸ $18,488,526

▸ $29,436,771

▸ $135,440,848

▸ $56,227,005

▸ $49,704,495

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Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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