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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 $1,184 from rent. You then expect to sell the house for $320,000 at the end of 54 months. If your discount rate on this investment is 6.5% per year (compounded monthly), how much 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.

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jeff jeffy answered 2 years ago
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