Finance
Please help me,math word problems make my brain go crazy.
Some friends are urging you to chip in with them to buy a vacant parcel og land on the outskirts of your city. A onefourth interest would cost you $10,000.Total annual expenses on the property are $2,200.When the property is sold,assume that you'll have to pay a real estate commission of 10% of the selling price and that the income taxes on any profit will be 15% of the profit.If the property is sold after 3 yrs,how much will it have to sell for so that you can reap an average annual net return of 10% of your $10,000?HELP PLEASE!
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Sara
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