Question

You just purchased a parcel of land for $10,000. if you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years? note. due to rounding and method of calculation, your answer might vary slightly. choose the closest answer.

Answer 1

I guess the closest answer is $31,060.

If you purchased a parcel of land for $10,000. If you expect a 12% annual rate of return on your investment. Therefore you can sell the land for in 10 years in $31,060.