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Question 8 Homework * Unanswered An investor can buy a tract of farmland today that he believes will sell for $50,000.00 in eight years. His

Question 8\ Homework

*

Unanswered\ An investor can buy a tract of farmland today that he believes will sell for

$50,000.00

in eight years. His required rate of return for this type of investment is

12%

per annum compounded monthly. How much should he pay for the land today? (Assume that there are no taxes or other periodic costs involved).

image text in transcribed
An investor can buy a tract of farmland today that he believes will sell for $50,000.00 in eight years. His required rate of return for this type of investment is 12% per annum compounded monthly. How much should he pay for the land today? (Assume that there are no taxes or other periodic costs involved)

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