"Problem $3-6$

Suppose you have the opportunity to make an investment in a real estate venture that expects to pay investors $$750$ at the end of each month for the next eight years. You believe that a reasonable return on your investment should be an annual rate of $15$ percent compounded monthly.

Required:

a$.$ How much should you pay for the investment?

b$.$ What will be the total sum of cash you will receive over the next eight years?

c$.$ What do we call the difference between the present value and total cash received?

Note: For all requirements, do not round intermediate calculations and round your final answers to the nearest whole dollar.

$\backslash$table$[[$a$.$ Present value,,$],[$b$.$ Cash received,,$],[$c$.$ Difference,,$]]$