Question
A prospective home buyer can afford to make monthly loan payments of no more than $1,475. If the best rate she can obtain on a
A prospective home buyer can afford to make monthly loan payments of no more than $1,475. If the best rate she can obtain on a mortgage is 10 percent (for a 30-year term), what is the maximum amount she can borrow? Round your answer to the nearest penny with no punctuation other than a decimal point.
You purchased a parcel of vacant land this morning for $399,077.95 (which includes closing costs) and you expect it to be worth $640,000 in 11 years. What is your expected rate of appreciation for this property?
Enter your answer to the nearest percentage showing 2 decimal places. For example, if you think the answer is 4.321%, enter 4.32
You sold a parcel of land this morning for $512,000. You originally paid $138,377.70 for the property and earned a return of 6%. How many years did you own this property? (Round your answer to the nearest year with no decimal places.)
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