13. Suppose you have the option to buy a parcel of vacant land. The option...
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13. Suppose you have the option to buy a parcel of vacant land. The option is for a 4 year period, and the purchase price is $100,000. You do not intend to exercise the option until the end of the 4-year period, which means you have 4 years to accumulate the $100,000 in cash to buy the land. You estimate you can save $1,800 per month from your salary, which will be deposited in a mutual fund earning 10% per year will you have accumulated enough money by the end of the fourth year to purchase the land
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