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1 . Suppose that you have saved $ 1 5 0 0 and will save $ 5 0 every month for the next 1 0
Suppose that you have saved $ and will save $ every month for the next years at the interest rate of pa compounded monthly.
At the end of the th year, you will have $
Five years ago, you purchased a condo with $ You rented it to me and received $ every month from me
Today, after you received the rent, you sold the condo for $
The IRR of this investment is pa compounded annually. Note that it is not the monthly rate.
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