At which time the buildings are seized by the authorities

Reference no: EM131781889

Question: An investor owns several apartment buildings. The taxes on these buildings total $30,000 per year and are due before April 1. The late fee is 1y2% per month up to 6 months, at which time the buildings are seized by the authorities and sold for back taxes. If the investor has $30,000 available on March 31, will he save money by paying the taxes at that time or by investing the money at 8% and paying the taxes and the penalty on September 30?

Reference no: EM131781889

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