An apartment building owner has a mortgage balance of $2,465,000. He also owes $22,575 in back-owed property
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An apartment building owner has a mortgage balance of $2,465,000. He also owes $22,575 in back-owed property taxes (plus penalties of 10%) and a foreclosure trustee's sale has been set - so he is also 90 days behind on payments of $33,857. What % of the outstanding balance will the bank recover if the building sells for $2,499,000 at auction?
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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