You buy a house for 220,000 in a neighborhood where home prices have risen 5% annually on
Question:
You buy a house for 220,000 in a neighborhood where home prices have risen 5% annually on average. You suspect that growth in home prices will slow to an average of 3.5% per a year over the next five years. If your growth estimate growth is correct, how much less will your house be worth in five years compared with 5% growth?
a. $3,300.00
b. $16,500.00
c. $19,490.95
d. $13,870.51
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Related Book For
Introduction To Corporate Finance
ISBN: 9781118300763
3rd Edition
Authors: Laurence Booth, Sean Cleary
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