^Joseph^is^considering^purchasing^a^condo.^He^has^the^option^of^buying^oneⁱⁿ^Midtown^with^a^present^{value of}^$150,000^or^oneⁱⁿ^downtown^with^a^future^value^of^$200,000.^If^the^current^market^interest^rate^is⁵^percent^and^he^wants^{to buy}^the^home^with^the^highest^future^valueⁱⁿ⁵^years,^he^shouldbuy the condo in downtown.

Question

Quizplus · Accepted Answer

If the future value of the condo in downtown is higher, it would make more financial sense for him to buy that one.

Joseph is considering purchasing a condo

^Joseph^is^considering^purchasing^a^condo