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Jill purchased a piece of real estate one year ago for $630,000. The real estate is...

Jill purchased a piece of real estate one year ago for $630,000. The real estate is now worth $680,000. If Jill needs to have a total return of 11.1 per cent during the year, then what is the dollar amount of income that she needed to have to reach her objective?

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Answer #1

Dollar Income needed=Beginning Value*(1+total return)-Ending Value=630000*(1+11.1%)-680000=19930.00

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