Company will be renting out their office space

in Cape Town for a period of three (3) years. They will receive R450 000

per year. The first payment will be due now, and the remainder of the payments

at the beginning of each of the following two years.

The compound interest

rate is 9%. Set your calculator to four decimal places for calculations and round

the final answer to the nearest rand. Slight rounding differences may occur -

choose the alternative that is closest to your answer.