Question
a 10-acre parcel lot is sold for $10,000. If sold for 10% down up front and paying off the balance in 12-months, the bank is
a 10-acre parcel lot is sold for $10,000. If sold for 10% down up front and paying off the balance in 12-months, the bank is willing to pay 3% interest, compounded monthly. What would your monthly deposit be into that account to pay off the desired balance? Finally, what is the total out-of-pocket cash made by you for the parcel?
F = A []
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
GAO Yellow Book Government Auditing Standar
Authors: Comptroller General United States Government
2011edition
1479245577, 978-1479245574
