The Hamptons Home of a Famed Socialite Hits the Market
“Before there was Paris Hilton, there was Consuelo Vanderbilt Balsan – a Gilded Age heiress and socialite, renowned for her beauty and wealth. Ms. Balsan’s onetime Hamptons home was slated to hit the market priced at $38 million with Tim Davis of the Corcoran Group.
Located on Ox Pasture Road in Southampton, the shingle-style home was built around 1910 and is known as “Gardenside” or “Cara-Mia”. Ms. Balsan, the great-granddaughter of railroad magnate Cornelius Vanderbilt, owned the house until her death in 1954.
According to public records, the estate is owned by Robert G. Goldstein, executive vice president and president of global gaming operations at Las Vegas Sands Corp, and his wife Sheryl, who purchased the house in 2002 for $17.4 million.” (The Wall Street Journal, August 1, 2014, M2)
In your initial response to the topic you have to answer all questions.
You are expected to make your own contribution in a main topic as well as respond with value added comments to at least two of your classmates as well as to your instructor.
Calculate the annual compound growth rate of the house price during the period when the house was owned by Robert G. Goldstein (since 2002). (Round the number of years to the whole number). Please show your work.
Assume that the growth rate you calculated in question #1 remains the same for the next 30 years. Calculate the price of the house in 30 years after it was sold by Robert G. Goldstein. Please show your work.
Assume that the growth rate you calculated in question #1 remains the same since the house was sold. Calculate the price of the house today. (Round the number of years to the whole number). Please show your work.
Assume the growth rate that you calculated in #1 prevailed since 1910. Calculate the price of the house in 1910. Please show your work.
Assume the growth rate that you calculated in #1 prevailed since 1910. Calculate the price of the house in 1954. Please show your work.
You were using the time value of money concept to answer question #5. Think about the time line for that problem. What is the time point 0 in that problem? Please explain your answer.
Reflection – the students also should include a paragraph in the initial response in their own words reflecting on specifically what they learned from the assignment and how they think they could apply what they learned in the workplace.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more