Assume that you are about to sell property $($a vacant parcel of real estate$)$ you own but otherwise have

no use for. The net$-$of$-$sales$-$commission selling price for the property is $$430,000.$ You are willing to

finance this transaction over a $18-$year period and have told the buyer that you expect an $9\%$ pretax

return on the transaction. The buyer has asked you for a payment schedule under several alternatives.

Required:

What will be your periodic cash receipt, to earn a $9\%$ return, if payments are received from the

purchaser:

NOTE: to answer the above questions, use the PMT function in Excel, as follows:

PMT$($rate$,$nper,pv$,$fv$,$type$)$

where: rate is the interest rate for the loan, nper is the total number of payments, $pv$ is the present value

$($i$.$e$.,$ the total amount that a series of future payments is worth now; also known as the principal$),fv$ is the

future value $($or a cash balance you want to attain after the last payment is made; if $fv$ is omitted, it is

assumed to be $0($zero$)),$ and type is the number $0($zero$)$ or $1$ and indicates when payments are due $($if

omitted, or $1$ is chosen, it is assumed that payments occur at the end of each period$).$

Additionally, what is the total of cash receipts over a $18-$year period for each of the four situations?

a$.$ At the end of each week?

b$.$ At the end of each month?

c$.$ At the end of each quarter?

d$.$ At the end of each year?

$($Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.$)$