FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An investor buys a property for $605,000 with a 25 -year mortgage and monthly payments at 7.6% APR. After 18 months the investor resells the

image text in transcribed
An investor buys a property for $605,000 with a 25 -year mortgage and monthly payments at 7.6% APR. After 18 months the investor resells the property for $663,156. How much cash will the investor have made from the sale, once the mortgage is paid off? A. $142,105 B. $99,473 C. $71,052 D. $56,842

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Fiscal Impact Handbook

The Fiscal Impact Handbook

Authors: David Listokin

1st Edition

ISBN: 1138535672, 978-1138535671

More Books

Students also viewed these Finance questions

Question

★★★★★
Kari Corporation issues 5,000, $4 cumulative preferred shares at $80 each and 10,000 common shares at $18 each at the beginning of 2015. Each preferred share is convertible into four common shares....

Answered: 1 week ago

Question

★★★★★
Why should a manager always remain objective, factual, and nonjudgmental in private anecdotal notes concerning employees when no other persons are intended to see them?

Answered: 1 week ago

Question

★★★★★
Given the information on the composition of a bond index in the table: a. Explain how you would construct a bond index portfolio using duration/ sector and duration/quality sector approaches. b....

Answered: 1 week ago

Question

★★★★★
The following table gives sales, product cost, and cost-to-serve data for a company that makes three product lines: A, B, and C. The company has two customer types. The cost to serve all customers is...

Answered: 1 week ago

Question

★★★★★
Question 6 (1 point) Listen Ms. Rhonda Fern donates some equipment to the Make A Wish Foundation, a registered Canadian charity. The assets have a fair market value of $75000, a capital cost of...

Answered: 1 week ago

Question

★★★★★
Bristol Inc. has sales of $ 3 , 3 0 0 , 0 0 0 , cost of goods sold is 6 0 % of sales, other operating expenses are $ 7 2 0 , 0 0 0 , the tax rate is 2 5 % , the dividend payout is 6 0 % of net...

Answered: 1 week ago

Question

★★★★★
7. A volcano in Hawaii is erupting and is spewing rocks and debris at a speed of 880 ft/sec at an angle of 60 degrees from the horizontal forma height of 4091 feet. Will a rock thrown from the...

Answered: 1 week ago

Question

★★★★★
Fall 2022 J. Rico 1. An observer spots a hot air balloon descending vertically to a spot directly on the ground At first sight, the angle of elevation to the balloon from where the observer stands is...

Answered: 1 week ago

Question

★★★★★
is the reciprocal of inventory turns. It is calculated by 365/(Inventory Turns). It is a gross estimate of how long your organization could continue to operate at its current activity level if you...

Answered: 1 week ago

Question

★★★★★
After receiving a large shipment of computer chips, 800 chips are randomly selected. If 3 or fewer defective chips are found, the entire lot is accepted without inspecting the remaining chips in the...

Answered: 1 week ago

Question

★★★★★
1. What form of business organization is Chipotle's? How do you know? 2. Identify the line item that flows from the income statement to the statement of retained earnings. 3. Identify the line item...

Answered: 1 week ago

Question

★★★★★
4. What are the principal technologies and standards for wireless networking, communication, and Internet access?

Answered: 1 week ago

Question

★★★★★
1. Should managers monitor employee e-mail and Internet usage? Why or why not? The Internet has become an extremely valuable business tool, but its also a huge distraction for workers on the job....

Answered: 1 week ago

Question

★★★★★
1. What is net neutrality? Why has the Internet operated under net neutrality up to this point in time? What kind of Internet user are you? Do you primarily use the Net to do a little e-mail and...

Answered: 1 week ago

Previous QuestionNext Question