Problem
You can buy a piece of vacantland for $30,000 cash. You plan to hold it for 15 years and then sell it at a profit. During this period, you would pay annual property taxes of $600. You would have no income from the property. Assuming that you want a 10% rate of return, at what net price would you have to sell the land 15 years hence?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.