Property taxes in your home state are roughly 3% of the purchase price every year. If you
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Property taxes in your home state are roughly 3% of the purchase price every year. If you just bought a
$500,000 home, what is the PV of all future property tax payments? Assume that the house remains worth
$500,000 forever, property tax rates never change, and that a 10% interest rate is used for discounting.
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Related Book For
Financial Markets And Institution
ISBN: 9781292459547
10th Global Edition
Authors: Frederic Mishkin, Stanley Eakins
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