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  3. an investor just purchased property under a unique financing agreement...

Question: an investor just purchased property under a unique financing agreement...

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3. An investor just purchased property under a unique financing agreement with a seller. The contract price was $1,000,000. The payment plan however starts only in year 3 with x dollars going up by x dollars every single year till year 6. If the interest rate on this transaction is 10% per year, what is the payment amount x (payment in year 3)? Draw (5+ 2 pts) the cash flow diagram too. diagram first to figure out the cash flows) (Hint: Draw the cash flow
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