Jennifer is considering two offers on her apartment in Summerland. The first offer is $401937.4 which includes 10% down, 45% to be paid in 1 year and the remainder to be paid in 2.5 years. The second offer is for $375362.86 with 50% down and the remainder to be repaid in 1 year. The rate of interest is 4.77% per year compounded monthly. What is the value today of the offer Jennifer should accept? 

Answer rating: 100% (QA)

To determine which offer Jennifer should accept we need to calculate the present value of both offer... View the full answer