Ferryland Inc. is leased in perpetuity at $ 11250 due at the beginning of each month. If the money is worth 11.5% compounded monthly, what is the value of the lease? a) $1,120,741.32 b) $1,185,163.04 c) $1,132,412.02 d) $1,175,235.33

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ISBN:9780470458365
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Ferryland Inc. is leased in perpetuity at $ 11250 due at the beginning of each month. If the
money is worth 11.5% compounded monthly, what is the value of the lease?
a) $1,120,741.32
b) $1,185,163.04
c) $1,132,412.02
d) $1,175,235.33
Transcribed Image Text:Ferryland Inc. is leased in perpetuity at $ 11250 due at the beginning of each month. If the money is worth 11.5% compounded monthly, what is the value of the lease? a) $1,120,741.32 b) $1,185,163.04 c) $1,132,412.02 d) $1,175,235.33
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