Question
A property was sold for $90,000 with a down payment of $15,000 and a seller financed, 25-year monthly mortgage of $75,000 at 7% interest. The
A property was sold for $90,000 with a down payment of $15,000 and a seller financed, 25-year monthly mortgage of $75,000 at 7% interest. The market rate is 8%. Calculate the adjusted sale price of a comparable single-family residence for cash equivalency. How reliable is this adjusted sale price as an indication of value?
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The Economics Of Money Banking And Financial Markets
Authors: Frederic Mishkin
13th Global Edition
1292409487, 978-1292409481
