=+e. Suppose that, after making the second payment on the annuity, you fall in love with someone
Question:
=+e. Suppose that, after making the second payment on the annuity, you fall in love with someone from a distant place and decide to move there. The house has appreciated in value (from its starting value of $400,000) by 10% each of the past two years. You no longer want the house and therefore would like to sell your right to the house in three years in exchange for having someone else make the last 3 annuity payments. How much will you be able to get paid to transfer this contract to someone else if the annual interest rate is always 10%?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
Question Posted: