MUST SHOW WORK!!! Julia currently is considering purchasing some land to be held as an...
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MUST SHOW WORK!!! Julia currently is considering purchasing some land to be held as an investment. She and seller have agreed to pay $1000 per month for 60 months, or $60K total. The seller is not in the real estate business and acquired the land several years ago for $10K. Two alternative interpretations of this transaction are: 1) Price of $51,726 with 6% interest 2) Price of $39,380 with 18% interest
What amount would buyer pay and seller receive under the two interpretations? Which one would each prefer?
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