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Can you please show me the steps on the financial calculator? Regan, a new appraiser, has found a comparable which was recently sold for $273,000,
Can you please show me the steps on the financial calculator?
Regan, a new appraiser, has found a comparable which was recently sold for $273,000, comprised of $90,000 cash and $183,000 vendor supplied mortgage at 7% per annum compounded semi-annually, with monthly payments (rounded to the next higher dollar) sufficient to amortize the loan over 25 years. If the market rate of similar financing is 5% per annum compounded semi-annually, what would Regan regard as the sale price of the house (round the answer to the nearest $100)? 1. $310,400 2. $242,000 3. $220,400 4, $152,000 22 ); PMT= LIYR PU PMT get/R YR Step by Step Solution
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