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You bought a property that had an NOI of $55,599, 13 years ago. The NOI has increased by 2.29% per year. What is the property worth today using a cap rate of 9.76%? Answer should be formatted as a dollar amount rounded to the nearest cent.

You bought a property that had an NOI of $55,599, 13 years ago. The NOI has increased by 2.29% per year. What is the property worth today using a cap rate of 9.76%? Answer should be formatted as a dollar amount rounded to the nearest cent.

Essentials Of Investments
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
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Question 3 You bought a property that had an NOI of $55,599, 13 years ago. The NOI has increased by 2.29% per year. What is the property worth today using a cap rate of 9.76%? Answer should be formatted as a dollar amount rounded to the nearest cent. Question 4 You bought a property for $321,880. You expect it to appreciate at 2.57% per year. How much will the property be worth in 19 years? Answer should be formatted as a dollar amount rounded to the nearest cent.
Transcribed Image Text:Question 3 You bought a property that had an NOI of $55,599, 13 years ago. The NOI has increased by 2.29% per year. What is the property worth today using a cap rate of 9.76%? Answer should be formatted as a dollar amount rounded to the nearest cent. Question 4 You bought a property for $321,880. You expect it to appreciate at 2.57% per year. How much will the property be worth in 19 years? Answer should be formatted as a dollar amount rounded to the nearest cent.
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