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An investor buys a condo for $152,000 by putting 10% down and financing the rest for 15 years. The condo depreciates in value by 0.5%
An investor buys a condo for $152,000 by putting 10% down and financing the rest for 15 years. The condo depreciates in value by 0.5% a month over the next two years. The investor decides to sell it after the 2 years. What are his monthly payments? How much equity does he have in the condo when he sells it? How much interest did he pay on the loan over the 2 years?
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