Gen. Robert E. Lee's Boyhood Home is for Sale

The historic Virginia home that ConfederateGen.Robert E. Leegrew up in hit the market in April 2018 for $8.5 million. (Trapasso, C.)

Robert E. Lee's father Henry rented the home in 1812, according to The Washington Post. The family lived there for over 80 years, including Robert E. Lee from age five to when he went to West Point in 1825. He again visited five years after the Civil War ended, The Post reported. (Leayman, E.)

The home's other claim to fame is thatPresidentGeorge Washingtonalso dined and lodged there before the Lee family moved in. (Trapasso, C.)

Built in 1795, the brick house was listed on the National Register of Historic Places in 1986. (Trapasso, C.)

The home had been used as a residence until 1966. The Stonewall Jackson Memorial Foundation purchased the home andopened it to the public. Unable to make ends meet, the foundation sold the home in 2000 toMark and Ann Kingtonfor $2.5 million. (Trapasso, C.)

The childhood home of Robert E. Lee that was listed in April 2018 for $8.5 million dollars, was sold in July 2020. Public records show it sold for almost half the original asking price at $4.7 million. (Alexandria Living Magazine.)

1. You were using the time value of money concept to answer question #2. Think about the time line for that problem. What is the time point 0 in that problem?Please explain your answer.