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7.1: The commercial building that you purchase for $680,000 gains 12% in value, compounded, during each of the first five years of ownership. What is
7.1: The commercial building that you purchase for $680,000 gains 12% in value, compounded, during each of the first five years of ownership. What is it worth at the end of 5 years, and how much has it appreciated since purchase, to the nearest whole dollar?
7.2: You sell your building for $1,200,000 just in time to miss a drop in the market. The value under the new buyer drops 30% within a short time. By what percentage does the value need to increase to bounce back to $1,200,000?
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