SECTION B: Compulsory Write a detailed paragraph containing an example where appropriate, to show your understanding of all EIGHT (8) of the following. Each answer is worth 5 marks. Q21 1. Explain carefully what the Net Present Value and the Internal Rate of Return (IRR) resulting from analysis of a proposed property investment indicates to the investor 2. Explain the principle of anticipation and the valuation method that it underpins 3. Outlining each step on your financial calculator, calculate the difference between the annual mortgage payment on a table loan of $420,000 at an interest rate of 4.99% and 5.5% with an amortisation period of 15 years 4. Briefly discuss this statement There is no capital gains tax on property in New Zealand' Explain why property market cycles are of interest to both investors and valuers 5. 6. Give an example of how a change to a District Plan could affect property values 7. How does the Residential Tenancies Act protect the interests of tenants? . What are the three types of Real Estate license and how are they diferent