Question
An undeveloped piece of property can be developed for $300,000 in one year. At that time, it will either be worth $900,000 or $400,000. The
An undeveloped piece of property can be developed for $300,000 in one year. At that time, it will either be worth $900,000 or $400,000. The interest rate is 9%.
A similar property that is developed now is valued at $700,000. What should be the current value of the undeveloped land?
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Bond Markets Analysis And Strategies
Authors: Frank J Fabozzi
8th Edition
013274354X, 9780132743549
