The ground rent was set at £28 per year for the first 21 years of the lease, increasing by £14 to £42 per year for the next 21 years, and then increasing again by £14 at the end of each subsequent period of 21 years. a. Find how many complete 21-year periods there would be if the lease ran for 999 years,

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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In 1971 a newly-built flat was sold with a 999-year lease. The terms of the sale included a requirement to pay ground rent yearly. The ground rent was set at £28 per year for the first 21 years of the lease, increasing by £14 to £42 per year for the next 21 years, and then increasing again by £14 at the end of each subsequent period of 21 years. a. Find how many complete 21-year periods there would be if the lease ran for 999 years, and how many years they will be left over. b. Find the total amount of ground rent that will be paid in all of the complete 21-year periods of the lease.
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