2. Suppose you invested just $20,000 of your own money and had a $130,000 mortgage with an...

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2. Suppose you invested just $20,000 of your own money and had a $130,000 mortgage with an interest rate of 7.5 percent. After one year you sell the property for $180,000.

a) What is your gross profit?

b) What is your net profit?

c) What is your percent rate of return on investment?

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Personal Finance

ISBN: 9780073530697

10th Edition

Authors: Jack Kapoor, Les Dlabay, Robert Hughes

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Question Posted: Jul 25, 2024 06:05 AM

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2. Suppose you invested just $20,000 of your own money and had a $130,000 mortgage with an...

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Personal Finance

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