Question
Assume that a block of three flats is purchased at a price of $831243 and provides security for a $210861 flat mortgage at an annual
Assume that a block of three flats is purchased at a price of $831243 and provides security for a $210861 flat mortgage at an annual interest rate of 11.23%. This property has a gross rental income of $70622 and operating expenses of $24300 per annum. What is the return on equity invested in this property?
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The Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
11th Global Edition
1292094184, 978-1292094182
