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A property development agreement valued at $59,000 requires quarterly lease payments of $3,500. The first...

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imageA property development agreement valued at $59,000 requires quarterly lease payments of $3,500. The first payment is due four years after the date of the agreement and interest is 5% compounded annually. For how long will payments be made?

A property development agreement valued at $59,000 requires quarterly lease payments of $3,500. The first payment is due four years after the date of the agreement and interest is 5% compounded annually. For how long will payments be made? The payments will be made for year(s) and/month(s). (Type whole numbers.)

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