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In: Finance

You are interested in buying a house and renting it out. You expect to receive a...

You are interested in buying a house and renting it out. You expect to receive a monthly net income of $1,500 from rent. You then expect to sell the house for $300,000 at the end of 60 months. If your discount rate on this investment is 0.8% per month, what is this property worth to you today? Assume that you receive rent at the beginning of each month and you receive the first rent the same day you purchase the property. Round to the nearest cent. ​[Hint: Notice that the interest rate provided is monthy, so this is i/m. Also, 60 months is nxm.]

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SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

As nothing was mentioned excel is used. If you need with FINANCIAL formula, let me know, will do that also. Thank you.

jeff jeffy answered 2 hours ago
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