RKE & Associates is considering the purchase of a building it currently leases for $30,000 per year .The owner of the building put it up for sale at a price of $180,000 but because the firm has been a good tenant ,the owner offered to sell it to RKE for a cash price os $160,000 now .If purchased now, how long will it be before the company recovers its investment at an interest rate of 12% per year ?Solve by using the NPER function.
RKE & Associates is considering the purchase of a building it currently leases for $30,000 per year .The owner of the building put it up for sale at a price of $180,000 but because the firm has been a good tenant ,the owner offered to sell it to RKE for a cash price os $160,000 now .If purchased now, how long will it be before the company recovers its investment at an interest rate of 12% per year ?Solve by using the NPER function.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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RKE & Associates is considering the purchase of a building it currently leases for $30,000 per year .The owner of the building put it up for sale at a price of $180,000 but because the firm has been a good tenant ,the owner offered to sell it to RKE for a cash price os $160,000 now .If purchased now, how long will it be before the company recovers its investment at an interest rate of 12% per year ?Solve by using the NPER function.
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