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9. The rent for the next ten years on a property contract is set at 5000 per month in arrear. The rent will increase by

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9. The rent for the next ten years on a property contract is set at 5000 per month in arrear. The rent will increase by 20% compound every ten years. Property rental tax is at a rate of 30% and is paid every two years for all rent received over the previous two years. Find the price of the property so as a new investor will achieve an investment return of 8% per annum effective

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