Multiple Choice
Suppose you own a house that you are renting out to a group of college students for the 10 month academic year. You are charging $1000 per month in rent. You will collect the first rent payment today and then on the 1ˢᵗ of the month each month thereafter. What is the value of this investment opportunity to you today if you could reinvest your income at an annualized rate of 6%?
A) $9,677.77
B) $9,730.41
C) $9,779.06
D) $11,677.03
Correct Answer:
Verified
Correct Answer:
Verified
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