A man purchased a house for P425,000. In

the first month that he owned the house, he

spent P75,000 on repairs and remodelling.

Immediately after the house was remodelled,

he was offered P545,000 to sell the house.

After some consideration, he decided to keep

the house and have it rented for P4,500 per

month starting two months after the

purchase. He collected rent for 15 months

and then sold the house for P600,000. If the

interest rate was 1.5% per month, how much

extra money did he make or lose by not

selling the house immediately after it was

remodelled?

Ans. Loss by not selling immediately by P5015