Jack L.
asked • 07/17/20Business Mathematics 114. A4P4Q1
Annette is considering two offers on her house in Rutland. The first offer is $400861.24 which includes 10% down, 45% to be paid in 1 year and the remainder to be paid in 2.5 years. The second offer is for $378334.52 with 50% down and the remainder to be repaid in 1 year. The rate of interest is 4.82% per year compounded monthly.
What is the value today of Annette's first offer?
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Mort M.
07/23/20