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Calculate the value of the apartment

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Reference no: EM133206210

You buy an apartment. The cost is $500,000 and you must provide a deposit of $100,000. Ignore purchasing and transaction costs. Rates and maintenance will cost you $9,000 per year. Assume this cost and the compounding of apartment value occurs at one point in time annually. Calculate the value of the apartment after 20 years assuming capital growth of 7% pa.

Reference no: EM133206210

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