Question
An investor buys a property for $655,000 with a25-year mortgage and monthly payments at 9% APR. After 18 months the investor resells the property for
An investor buys a property for $655,000 with a25-year mortgage and monthly payments at 9% APR. After 18 months the investor resells the property for $721,040. How much cash will the investor have made from thesale, once the mortgage is paidoff?
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Principles of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter, Wajeeh Elali, Amer Al Roubaix
Arab World Edition
1408271583, 978-1408271582
