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Chap. 17 Problems i Saved 3 Felice bought a duplex apartment at a cost of $215,000. Her mortgage payments on the property are $1,730 per
Chap. 17 Problems i Saved 3 Felice bought a duplex apartment at a cost of $215,000. Her mortgage payments on the property are $1,730 per month. Her real estate taxes total $1,920 per year, and insurance costs $1,296 per year. She estimates that she will spend $1,314 each year per apartment for maintenance, replacing appliances, and other costs. The tenants will pay for all utilities. Ignore income taxes, changes in equity value, and changes in property value. 5 points What monthly rent must she charge for each apartment to break even? (Do not round intermediate calculations. Round your answer to 2 decimal places.) eBook Rent per apartment to break $ even Print References
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