August 11th 04, 12:34 PM
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In article ,
(Len Over 21) writes:
In 1962 a Mooney single-engine, 4-place, retracts, gen-av
plane cost $30,000 with minimal electronics on board. Hull
insurance annual premiums for under-200-hour privates
was 10% of that! My present residence cost $30,600 in
1963. It's worth anywhere from $300,000 to $400,000 on the
market today (depending on the realtor).
Let's see....
If an investment of $30,600 is worth $350,000 after a
period of 41 years, the annual interest rate works out
to be approximately 6.015%
That's only a bit ahead of the long term inflation rate
A house has insurance, taxes, and general upkeep.
We are not impressed.
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