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An investor just purchased an office building for $175,000. He knows for certain that he can sell the building for $158,000 in 7 years. Approximately
An investor just purchased an office building for $175,000. He knows for certain that he can sell the building for $158,000 in 7 years. Approximately how much does he need to charge in annual rent in order to achieve a 9% annual return on the deal (rounded to the nearest hundred dollars)? Show your steps used in Excel.
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