Calculating Profit or Loss on a Rental Property. What must she charge to make $2,000 in profit each year?

Problems 7 and 8 are based on the following scenario: Assume your home is assessed at $200,000. You have a $150,000 loan for 30 years at 6 percent. Your property tax rate is 1.5 percent of the assessed value. In year one, you would pay $9,000 in mortgage interest and $3,000 in property tax (1.5 percent on $200,000 assessed value).

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