Solved: A price of 51726 with 6 interest and 2 a price of 39380, Accounting Basics

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A price of 51726 with 6 interest and 2 a price of 39380

Question: Julia is considering the purchase of some land to be held as an investment. She and the seller have agreed on a contract under which Julia would pay $1000 per month for 60 months or $60,000 total. The seller paid 10,000 for the land. There are two alternative interpretations of this transaction 1: a price of 51,726 with 6% interest and 2: a price of $39,380 with 18% interest. Which interpretation would each party prefer and why?

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Accounting Basics: A price of 51726 with 6 interest and 2 a price of 39380

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