20. (20 points) - A slick-talkin' saleslady sold you a house that she said had...
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20. (20 points) - A slick-talkin' saleslady sold you a house that she said had "lots of rental property potential." You tried to negotiate, but she wouldn't accept a pennyless than $50,000 for the property. The annual taxes are $1,500, which are paid in equal monthly install ments. For four very long years, you had consistent rental income pegged at $800 per month. At that point in time, what would your Retum on Investment (ROI) be? (Estimated Response Time for Average Student 7 minutes) 21. (20 points) - Referring to the property mentioned in the previous question, if the saleslady offers to buy back the property at the end of four years for the same amount of money that you paid for it, what would your ROI be then? (Estimated Response Time for Average Student 7 minutes) a. 0.22% b. 1.25% c. 0.67% d. 3.19% e. 1.35%
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