(Present value tables required) Income from an apartment building you own totals $260,000 per year. You plan on selling the building and retiring to France in 12 years
Assuming you can invest the income from the building each year at 3%, how much money will you have on which to retire?
A) $3,330,080
B) $4,060,680
C) $3,689,920
D) $2,558,040
C
Explanation: C) Future value @ 3% for 12 yrs = 14.192 × 260,000 = $3,689,920
Business
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