Problem
The annual income from an apartment house is $20,000. The annual expenses are estimated to be $2000. If the apartment house can be sold for $100,000 at the end of 10 years, how much can you afford to pay for it if the time value of money is 10%?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.