Question
A multinational engineering consulting firm that wants to provide resort accommodations to clients is considering the purchase of a three-bedroom lodge in upper Montana that
A multinational engineering consulting firm that wants to provide resort accommodations to clients is considering the purchase of a three-bedroom lodge in upper Montana that will cost $275,000. The property in that area is rapidly appreciating in value because people anxious to get away from urban developments sare bidding up the prices. If the company spends an average of $675 per month for utilities and the investment increases at a rate of 0.75% per month, how long would it be before the company could sell the property for $100,000 more than it has invested in it?
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