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Should Jimmy accept the offer

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Question - Jimmy owns a piece of land worth $490000. Bill wants to buy the land from Jimmy by offering him a 20% deposit on the land and 2 equal payments of $235000 at the end of every 2 years for the next 4 years. If money is worth j1=5%for the 1st 2 years and j4=5.75%  afterwards, should Jimmy accept the offer? Based on your decision how much money would Jimmy make (or save) at the time of the last payment by his decision?

Reference no: EM132824956

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