London purchased a piece of real estate last year for $81,200. The real estate is now...
London purchased a piece of real estate last year for $81,200. The real estate is now worth $100,000. If London needs to have a total return of 0.24 during the year, then what is the dollar amount of income that she needed to have to reach her objective? Round to two decimal places.
Homework Answers
Total return=(End value-Beginning value+Income)/Beginning value
0.24=(100,000-81200+Income)/81200
(0.24*81200)=18800+Income
Income=19488-18800
=$688
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> I think if you are indeed interested in such special house I would say you just call the good listing agent whose name is on the sign/ad that you see on good real estate websites - they will provide you with relevant information on the house and give you a property tour. Referrals and expert reviews available on such sites also help you in making the right decision.
Anthony Constantinou Wed, Dec 8, 2021 8:31 AM