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A real estate agent wants you to buy a plot of land today for $60,000 and he promises that you can ...

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A real estate agent wants you to buy a plot of land today for $60,000 and he promises that you can ...

A real estate agent wants you to buy a plot of land today for $60,000 and he promises that you can sell it back to him in 7 years for $100,000. If you can earn 9% on alternative investments, then what is the present value of the sales proceeds? Is this a worthwhile investment?
A) $54,703.42; it is not a worthwhile investment.
B) $54,703.42; it is a worthwhile investment.
C) $61,294.51; it is not a worthwhile investment.
D) $61,294.51; it is a worthwhile investment.
E) $60,000; not enough information.

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Corporate Finance Online

Edition: 1^st

Authors: Eakins, McNally

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