Mary purchased a home for $200,000. By living in the home, she saved $18,000 annually because she
Question:
Mary purchased a home for $200,000. By living in the home, she saved $18,000 annually because she did not have to pay rent. She had to pay $3000 annually for upkeep of the home. By the end of the first year, the home price had appreciated to $210,000. What was her return for the first year (considering assumed rents)?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 69% (13 reviews)
Recall the return on house for the period 2...View the full answer
Answered By
Salmon ouma
I am a graduate of Maseno University, I graduated with a second class honors upper division in Business administration. I have assisted many students with their academic work during my years of tutoring. That has helped me build my experience as an academic writer. I am happy to tell you that many students have benefited from my work as a writer since my work is perfect, precise, and always submitted in due time. I am able to work under very minimal or no supervision at all and be able to beat deadlines.
I have high knowledge of essay writing skills. I am also well conversant with formatting styles such as Harvard, APA, MLA, and Chicago. All that combined with my knowledge in methods of data analysis such as regression analysis, hypothesis analysis, inductive approach, and deductive approach have enabled me to assist several college and university students across the world with their academic work such as essays, thesis writing, term paper, research project, and dissertation. I have managed to help students get their work done in good time due to my dedication to writing.
5.00+
4+ Reviews
16+ Question Solved
Related Book For
Question Posted:
Students also viewed these Corporate Finance questions
-
Doug Bareak, a friend of yours, has recently purchased a home for $200,000. He paid $20,000 down and financed the remainder with a 20-year, 5% mortgage that is payable in blended payments of...
-
On January 1 of year 1, Arthur and Aretha Franklin purchased a home for $1.5 million by paying $200,000 down and borrowing the remaining $1.3 million with a 7 percent loan secured by the home. a....
-
Heather McIntosh of Watertown, South Dakota, recently purchased a home for $190,000. She put $25,000 down and took out a 25-year loan at 5.5 percent interest. (a) Use Table 9-4 on page 285 to...
-
A square duct, 30 cm by 30 cm, is maintained at a constant temperature of 30oC and an airstream of 50oC and 1 atm is forced across it with a velocity of 6 m/s. Calculate the heat gained by the duct....
-
As indicated in the All About You feature (available on the books companion website), medical costs are substantial and rising. But will they be the most substantial expense over your lifetime? Not...
-
Radon gas, 222/86Rn, is considered a serious health hazard (see discussion in text). It decays by -emission. (a) What is the daughter nucleus? (b) Is the daughter nucleus stable or radioactive? If...
-
An electronic walkthrough of the application's internal logic is called a. a salami logic test. b. an integrated test. c. tracing. d. a logic bomb test.
-
Fred, age 50, plans to retire when he reaches age 65. He is considering investing in either an IRA or a Roth IRA. He plans to contribute $6,000 per year until he retires. Fred expects his marginal...
-
Students at a school were asked whether they would be interested in free guitar lessons. They were also asked whether they were left- or right- handed. The results of the survey are shown in the...
-
On 8 November 2022, Zandile Zungu acquired twenty South African treasury bonds that pays semi-annual interest at a current price (present value) of 117% of R1 000 par value per bond. The last coupon...
-
Jack purchases a house for $90,000 and spends $15,000 to renovate it. He holds the house for 35 years and then sells it in middle of a real estate bubble for $400,000. On how much of that amount does...
-
Josh earns $80,000 a year. He would like to purchase a home and applies for a mortgage from the bank. The bank requires that the debt not exceed 28 percent of his annual income. With the current down...
-
What is the term used to describe a dividend that is paid part way through a financial year?
-
What characterizes un-normalized data? Why is un-normalized data a problem? How do you know when the database is fully normalized? Define a foreign key and describe the use of foreign keys. What data...
-
An annual coupon bond has a coupon rate of 6 percent, 7 years to maturity, a par value of $1000, and a yield to maturity of 9 percent. What is the bond price?
-
What role do application programming interfaces (APIs) play in fostering an open banking ecosystem, and how do they enable seamless data sharing and interoperability between financial institutions...
-
An astronaut who is repairing the outside of her spaceship accidentally pushes away a 98.9 cm long steel rod, which flies off at 10.9 m/s, never to be seen again. As it happens, the rod is oriented...
-
Sew 'N More just paid an annual dividend of $2.84 a share. The firm plans to pay annual dividends of $2.90, $3.00, and $3.06 over the next 3 years, respectively. After that time, the dividends will...
-
What lean tools and procedures would you suggest Jane introduce into this department? Why?
-
Suppose the S&P 500 futures price is 1000, = 30%, r = 5%, = 5%, T = 1, and n = 3. a. What are the prices of European calls and puts for K = $1000? Why do you find the prices to be equal? b. What...
-
Answer the key questions posed to help you choose a plan, based on your current situation. What type of plan do you think will best suit your needs?
-
Answer the key questions posed to help you choose a plan, based on your current situation. What type of plan do you think will best suit your needs?
-
Choosing a health insurance plan. Joe and Whitney Alexander have two children, with ages of 6 years and 5 months. Their younger child, Nathan, was born with a congenital heart defect that will...
-
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost per...
-
Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to Individuals as well as local companies that coordinate adventure...
-
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company's products, a football helmet for the North American market, requires a special plastic. During the quarter...
Study smarter with the SolutionInn App