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As a rental for a building, the owner received two offer: a) 50,000 a year for 8 years, the rental for each year being paid at the start of each year. b) 30,000 the first year, 40,000 second year, 50,000 the third year, and 60,000 for the next 5 years with all rentals paid at the beginning of each year. If money is worth 12%, which is better offer?

As a rental for a building, the owner received two offer: a) 50,000 a year for 8 years, the rental for each year being paid at the start of each year. b) 30,000 the first year, 40,000 second year, 50,000 the third year, and 60,000 for the next 5 years with all rentals paid at the beginning of each year. If money is worth 12%, which is better offer?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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As a rental for a building, the owner received two offer: a) 50,000 a year for 8 years, the rental for each year being paid at the start of each year. b) 30,000 the first year, 40,000 second year, 50,000 the third year, and 60,000 for the next 5 years with all rentals paid at the beginning of each year. If money is worth 12%, which is better offer?
Transcribed Image Text:As a rental for a building, the owner received two offer: a) 50,000 a year for 8 years, the rental for each year being paid at the start of each year. b) 30,000 the first year, 40,000 second year, 50,000 the third year, and 60,000 for the next 5 years with all rentals paid at the beginning of each year. If money is worth 12%, which is better offer?
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