You just purchased a parcel of land for $47,000. To earn a 13% annual rate of return

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You just purchased a parcel of land for $47,000. To earn a 13% annual rate of return on your investment, how much must you sell the land for in 4 years? Assume annual compounding. (Round to nearest penny, e.g. 1234.56)

Related Book For answer-question

Fundamental financial accounting concepts

ISBN: 978-0078025365

8th edition

Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward

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Posted Date: Mar 08, 2024 12:20 AM

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You just purchased a parcel of land for $47,000. To earn a 13% annual rate of return

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We can calculate the future selling price of the land to achieve a 13 annual return o... View the full answer

Fundamental financial accounting concepts

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