Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. possible you are thinking of buying a house beside

possible You are thinking of buying a house beside the College which you will rent...

70.2K

Verified Solution

Question

Finance

image
possible You are thinking of buying a house beside the College which you will rent to students. You expect to receive $1,250 a month in rental income. Your real estate agent estimates that you will be able to sell the property for $250,000 at the end of 35 months. You'd like a return of at least 0.2% per month. What is the most that you should pay for the house, assuming that you will purchase the house today and receive the first (beginning of month) rental payment today. What is the most that you should pay for the property today? (Round to the nearest dollar.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Personal Polynomial Please make "Chelsea" into a polynomial equation

Basic Math
Q

Assume that a demand equation is given by x 5000 100p Find the marginal revenue...

Basic Math
Q

The surface area of a cube is 270 inches squared What is the length of...

Basic Math
Q

The polynomial P x is degree 3 and has a root of multiplicity 2 at...

Calculus
Q

Consider the following set that shows the high temperature in Orlando for the past 8...

Algebra
Q

Find the perimeter and area of the figure Assume right angles and parallel sides except...

Algebra
Q

46. "Costs may be classified in a variety of ways according to their nature and...

Accounting
Q

In 2015, Ryce contributes non-depreciable property with an adjusted basis of $60,000 and a fair...

Accounting
Q

Barber and Atkins are partners in an accounting firm and share net income and loss...

Accounting
Q

question 2 The Preston Compary is in the process...

Accounting
Q

The following changes took place last year in Pavolik Companys balance sheet accounts: ...

Accounting
Q

50. Is the following scenario correct about credits that affect tax liability? A taxpayer filing...

Accounting