Question
A real estate developer offers to sell you some prime real estate for $574,000 today. You agree to pay $275,000 in exactly 10 months but
A real estate developer offers to sell you some prime real estate for $574,000 today. You agree to pay $275,000 in exactly 10 months but the balance in exactly 23 months from today when you expect to receive some cash from an investment. How much will you need to pay the developer in 23 months if the interest rate is 4.0% per annum compounding monthly (rounded to the nearest dollar; dont show $ sign or commas)?
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Financial Management for Public Health and Not for Profit Organizations
Authors: Steven A. Finkler, Thad Calabrese
4th edition
133060411, 132805669, 9780133060416, 978-0132805667
