Gina is interested in buying a house beside the university which she will rent to...
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Gina is interested in buying a house beside the university which she will rent to students. She expects to receive $900 a month in rental income. Gina's real estate agent estimates that she will be able to sell the property for $225,000 at the end of 2.25 years. Gina wants a return of 0.5% per month. What is the most that she should pay for the property? Assume that she will purchase the house today and receive the first (beginning of month) rental payment today. $ (Round your answer to the nearest dollar.)
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