How to solve

You are thinking about buying an antique, holding it awhile,

fixing it up$,$ and then selling it$.$ Details are:

Current market value is $560$

At the end of each year, you will pay $140$ for storage costs

You plan to hold it for $6$ years

You think you can sell it for $5,600$

You want to earn an annual return of $13\mathrm{.}0\%$

How much could you pay to fix it up$,$ and still earn your desired

annual return? Assume any costs occur at the same time you sell it$.$

A Between $500$ and $2,300$

B Between $2,300$ and $2,800$

C Between $2,800$ and $3,400$

D Between $3,400$ and $5,000$