Starting with a $205,000 investment, a couple hopes to be able to renovate their home in 5
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Question:
Starting with a $205,000 investment, a couple hopes to be able to renovate their home in 5 years.
It will cost $250,000 for renovations.
What is the aggregate rate of return required to achieve a net gain of $45,000 (and make up the $250,000 required)?
They invested $205,000 in a growth portfolio, yielding a 10% annual return. What is the projected value from the initial $205,000 investment?
Expert Answer:
Required Rate of Return for Renovation Goal To achieve a net gain of 45000 and cover the renovati... View the full answer
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