You are thinking about buying a real estate property.  If you buy the property, you think you will sell it for $829826 in 13 years.  If your required return on investments of this risk is 16.17%, what is the most that you should be willing to pay for the property? Round to 2 decimal places.  Include a dollar sign ($) or percent (%) as appropriate

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
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You are thinking about buying a real estate property.  If you buy the property, you think you will sell it for $829826 in 13 years.  If your required return on investments of this risk is 16.17%, what is the most that you should be willing to pay for the property?

Round to 2 decimal places.  Include a dollar sign ($) or percent (%) as appropriate.

 
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The most that you should be willing to pay for the property is [selling price today*1/(1+r%)^t]

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