Purchase resort accommodation to rent to skiers

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Reference no: EM131561026

Clarisa, an engineering manager, wants to purchase a resort accommodation to rent to skiers. She is considering the purchase of a three- bedroom lodge in upper Montana that will cost $250,000. The property in the area is rapidly appreciating in value because people anxious to get away from urban developments are bidding up the prices. If Clarisa spends an average of $500 per month for utilities and the investment increases at a rate of 3% per month, how long would it be before she could sell the property for $110,000 more than she has invested in it?

Reference no: EM131561026

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Purchase resort accommodation to rent to skiers : Clarisa, an engineering manager, wants to purchase a resort accommodation to rent to skiers.

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